C2OI34 trade ideas
Morning. Legends - except Mike 😀Well we had the earnings call this morning and another domino falls....
Coke is teaming up with coin base.
Just wanted to check in with all the guys that are shorting this stock and see how you're going....
Why the bad energy....?
I mean, how would you feel if you owned a public company and someone shorted your stock.
empathy guys... it's just bad energy.
Anyway im just here to quickly say you guys only have a matter of time to get on board before this ship sails...
So pack up your gambling kits..your greed and get a bit more humble and go long on this baby.
You will not be disappointed...
You will see.
Meow
A famous Reversal Pattern | Profitable over 177%Weekly chart
Coin Base ( NASDAQ:COIN ) has completed the famous Reversal Pattern that's Head Shoulders.
Coin Base is trading around $78
NASDAQ:COIN has resistance ahead $85. It needs to close above that price to confirm for uptrend.
Let wait and see what will happen
$COIN to $158??NASDAQ:COIN / Coinbase
Wave 1 - 1st Target = $87 (Confirmation) (entry is between $87 and $95)
Wave 3 - 2nd Target = $135 (I will close 25% of my trade)
Wave 5 - 3rd Target = $158 (I will close the remaining 75% of my trade)
I am expecting NASDAQ:COIN to at least hit $135 which will be a great move from the current position of $96.
Options Idea: $120 strike, 1st September Expiry 10% SL, currently priced at $400 per contract
Coinbase bullish biasLooking for coinbase to produce a shift in market structure on a smaller time frame to push price higher to take out the buy side liquidity at 116.30. This is an earnings week for the pair which could be the catalyst it needs to drive price higher. After just breaking the high of a range with displacement, and retracement to the 8 hour gap of fair value. I'm looking at this as an area of value to get a good entry. Ps this is not financial advice.
COIN is testing for pressureCOIN is testing for pressure
This chart shows the weekly candle chart of Coinbase stocks in the past two years. The graph overlays the high points at the end of 2021 against the golden section. As shown in the figure, Coinbase stock broke through the upper edge of the current fluctuation range from May 2022 two weeks ago, and confirmed by stepping back at this position this week! And this position also happens to be at the 2.000 position of the golden section in the figure, so the strong pressure above the Coinbase stock is at the 1.618 position in the figure!
COINBASE-SELL strategyso far so good. The SELL idea working out, but think we have more downside move to come.
The weekly (not shown) also shows negative stochastic, so overall we may return toward 75.00 again is my personal view.
Strategy SELL or add @ $ 93.50-98.00 and take profit @ 79.75 for now.
Coinbase ($COIN) in phase D of Wyckoff accumulation schematic #2Coinbase ( NASDAQ:COIN ) shows strong similarities with Wyckoff accumulation scheme #2.
Unlike Wyckoff accumulation scheme #1, #2 doesn't have a "spring," but in phase C, the bottom of the TR (Trading Range) is tested by selling that is reversed by an aggressive buyer. Phase C and the buyer have similarities with Cathy Wood's AMEX:ARKK investments purchase of NASDAQ:COIN , where she bought 400,000 shares of Coinbase on 6th of June, undoing the selling pressure. This can be observed in the chart by looking at the huge volume increase on June 6th, see; "Last Point Of Support" (LPS) in phase C.
Where is price now?
The price is currently in phase D. In this phase, the stock demonstrates strength proven by increasement of volume and price increase (SOS) and price fluctuates near the upper end of the range. Price might test Back up/ Last point of Support and consolidate upper end of the TR.
What's next?
With the first announcement (not the final decision) regarding the AMEX:ARKK ETF approaching on August 13th, this stock may break out of the TR after spending some time in phase D and send stock price higher due to positive news.
Important to mention;
Because there is no "spring" shown in the chart, identifying phase C is more challenging. Typically, the Wyckoff accumulation TR in phase C has clear aggressive sellers pushing the price below the TR, only to be bought up afterward. This is not the case now.
Alternative
One scenario to consider is that phase D might actually be Phase C in Wyckoff accumulation scheme #1, and after this, there could still be aggressive selling pressure causing the price to fall below the TR and form a spring. This could be accompanied by negative market sentiment or bearish news for Coinbase or the ETF decission.
Coin to 8 dollars. Short squeeze is a market makers out.I didn't think that we were going to scam pump so hard, but the exit liquidity was required.
The market maker has shown their hand. They want out and they are getting out at the top of the range. had we hit the lower levels (44) or (38) before the spring then things would be different right now. Instead the Market maker has initiated a short squeeze. this is why I do not short scam markets. He will take the liquidity from the short squeeze to exit his position.
Once the shorts have covered up here, then expect 7-8 dollars for this stock.
People will laugh, people will talk shit, but they will lose all their money so I don't care.
Trend is still down.
"crypto" is a shadow of its former self. Bitcoin is captured by the state, and the rest are being attacked by the state.
If you don't understand. I don't have time to explain.
COINBASE-SELL strategy Daily chartCOINBASE is way overextended, and the pattern forming, suggest we are turning around lower. We are trading below GANN resistance @ 106.00. The stochastic as well as RSI are NEG.
Strategy SELL current @ 101.00-103.00 and take profit @ 88.50 for now. Stop-loss above 107.50.
$COIN - an updateNASDAQ:COIN Today's price action cooled off the over heated RSI.
The stock is at the prior resistance and congestion area. Hence the stock is having a hard time breaking $115. It might consolidate in this area a bit.
Once the price gets above $115, it can head to $147.
On the other hand, if we see a strong pull back, we could see $87. 💥🚀💰 Still holding onto my positions.