COIN trade ideas
COIN once again completing a normal correction...As you can see when our Wyckoff Technometer registers oversold with a reading below 38 as marked with green highlights, it normally provides an excellent entry point.
Once again we are at .50 retracement of the previous rally, and a nice entry level.
COINBASE around the 1D MA50 but the MA100 more likely to supportCoinbase Global (COIN) rose as high as our last target (March 05, see chart below) and has been pulling back since:
The best way to view this short-term correction is on the diverging Channel Up (blue) which started on the October 27 2023 bottom. As with the longer term Channel Up, it consolidates considerably below the 1D MA50 (blue trend-line), with the last (February 05 2024) Low finding support just above the 1D MA100 (green trend-line).
As a result we expect a Higher Low for the diverging Channel Up close to 185.00, before start seeing the new Bullish Leg. In addition, we need to see the 1D RSI touching its 2-year Support Zone, which usually tends to touch it twice during an Accumulation Phase. The price also tends to Double Bottom. This means that there will be time most likely (always account for how strongly the Bitcoin Halving might do to the market) to identify the new bottom and most optimal buy entry based on the conditions above.
We are willing to buy there for the Bullish Leg that will follow and target $370.00, which is the top of the long-term Fibonacci Channel. Note that in case of a break-out, the price can even go as high as the 2.0 (blue) Fibonacci extension ($440.00), which is around the Fib level that the last two Higher Highs where priced.
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Coinbase: A Technical PerspectiveFundamentals:
From a speculative outlook, the fundamentals on Coinbase do not fully meet my criteria, but this IPO's balance sheet is projected to continue its acceleration in sales. Currently, this quarter's sales were at 52%; earnings over 142%.
Technicals:
Daily hammer at horizontal support with really high volume relative to other periods and days at or candles prior to this and around it.
uHd in the histogram
Based on what I perceive to be a bottom in the Coinbase valley, I look to add Coinbase's dividend paying ETF, CONY, to the portfolio.
$COIN shorts are trapped! Major squeeze incoming?NASDAQ:COIN shorts trapped after false breakdown. Price broke down both below the daily 50 sma (purple) and March 2024 low and then recovered. A trader bought a 275/277.50 bull debit spread risking over $200K and targeting near ATHs ($283.48).
Bitcoin bust?All depends on the fed.
Only judging from a basic bearish rising channel mixed with negative divergence.
COINBASE-SELL strategy Daily chartThe share has moved as expected, and looking at the chart, we should reach around $ 170-180. the pattern is "M-top" and neck line somewhere @ $ 240 area.
For now we are slightly oversold, and we could pullback to $ 250-250 before the decline will set in to 170.
Strategy SELL @ $ 245-250 and take profit @ $ 175. SL above $ 280.
Triple top idea $COINJust though the chart looked kinda nice. It filled this little daily gap so far. Slight relief seeing the market finally retrace a little bit as well
COIN to $150 before bouncing higher?Lines up with the 1.618 fib which can act as major support on falling price action.
Solid long entry IMO, time will tell.
Coinbase UpdateCoinbase made some good progress today towards the target box. It appears to me we are in wave iii of C of (A). More specifically I think we're in wave 4 of iii and should have a little retrace before dropping again to the 1.382-1.618 ($218.14-$213.18) for 5 of iii before raising again for wave iv of C. MACD should start to raise towards the zero line if this is the case. Nothing more to really add at this time, let me know if you have any questions.
P.S. - How do all the haters out there that kept saying Coinbase was about to rip higher feel? Of course, markets aren't linear, and we will get retraces higher, but this is just the beginning of this retrace lower in a larger wave 4.
CoinbaseHello friends
In the case of Coinbase, we are witnessing the formation of an upward wave.
This upward wave can be 5 waves or zigzag, of course, everything depends on the growth of digital currencies.
But the probable scenario is a 5-wave, whose waves 1, 2, and 3 have been completed.
Wave 4 may be zigzag, triangle or... Therefore, by breaking the ceiling of $281, which is a static resistance, you can enter into a buy deal, the final goal of wave 5 is $360.
If the stock declines and there is a correction, it could go down to $177 or $118.
I recommend that you install Trading View software on your phone to support me and see my analysis and support me with your comments and Boost. Be successful and profitable.
COIN - BullishGreat setup in COIN at the moment. Once price breaks 254.50, take longs to 268 target. Good luck!
- not financial advice
COINBASE BULLISH ENGULFING The BULLS are ready to be wage war against COINBASE. Decoded a bullish engulfing pattern on a 4hr TF. No once knows the outcome for tomorrow at coinbase but we do now.
Engulfing will take price not sure how high but my ATR PIPS calculation reads $275 at 10.9 pips. As of now coinbase is at $251
Engulfing is telling us the BULLS will push the price up by tomorrow. This also means BTC will have a much higher value but we already knew that but it’s nice to be confirmed from another source.
[COIN] Adding more into the swing position CoinbaseAfter the news, we have a new entry point to long.
This news can become the one making the BTC and crypto go to new highs on a near future so this entry can be justified also by this.
Great Trade !
[Coinbase] bearishIn the coming weeks, Coinbase will suffer from the trend reversal in the crypto market and the decline in Bitcoin.
COIN 07/04/2024The price briefly moved off track but then came back into the usual range. It first paused at EQ, and if we drop below EQ, we might hit RL. However, we could correct imbalances, possibly bringing us back to EQ, making it easier to reach RH. On the other hand, if we fail to hold EQ and then retest, we could head to RL.
How we enter or retest is key, it decides where the price goes.
Coinbase UpdateThe chart pretty much speaks for itself. It looks like we are sub-dividing yet again. This drop from 05 April @ $253.96 is either another sub-division or it is the wave 1-2 of C forming with wave 3 of C of (C) coming soon to complete the larger A wave. The multiple boxes show the normal ending for the different sub-divisions with the red bordered box showing where these counts overlap. This is the most ideal spot for this larger A wave to end but could technically extend. Bottom line for Coinbase, it is a bad idea to be long right now.
Coinbase Faces Legal Turbulence: Class Action Lawsuit RevivedIn a significant turn of events, Coinbase ( NASDAQ:COIN ), a leading cryptocurrency exchange, finds itself embroiled in legal turmoil as a class action lawsuit, initially dismissed in 2021, is revived by the 2nd US Circuit Court of Appeals. This development thrusts the platform into the spotlight once again, reigniting debates over the regulatory landscape of digital assets.
The lawsuit, spearheaded by Louis Oberlander against Coinbase Global Inc., alleges that the exchange facilitated the sale of 79 digital assets, which consumers argue constitute illegal contracts due to Coinbase's purported lack of registration with the US Securities and Exchange Commission (SEC). This resurgence of legal action underscores the complexities and uncertainties surrounding the regulation of cryptocurrency markets.
While the revival of the lawsuit may seem like a setback for Coinbase ( NASDAQ:COIN ), Chief Legal Officer Paul Grewal remains steadfast in his response, applauding the court's affirmation that the exchange bears no private liability for the secondary trading of digital assets on its platform. Grewal's stance reflects Coinbase's preparedness to confront legal challenges head-on, underscoring the platform's confidence in the contractual agreements users enter into while engaging with the exchange.
However, the legal battle is far from straightforward. The appeals court's decision to revive the lawsuit hinges on nuanced legal interpretations, including the identification of specific contracts meeting cancellation requirements under the law. Moreover, questions arise regarding the validity of user agreements and their implications for the dismissal of the class-action suit, adding layers of complexity to the ongoing legal saga.
Central to the plaintiffs' allegations is Coinbase's purported promotion of token sales through various means, including providing users with asset descriptions, purported values, and engaging in promotional activities such as news updates and price movement alerts. These claims underscore the evolving role of cryptocurrency exchanges in shaping market dynamics and investor behavior, raising pertinent questions about accountability and transparency.
As the legal proceedings unfold, Coinbase's response to the revived lawsuit will be closely scrutinized, with broader implications for the cryptocurrency industry's regulatory framework. The outcome of this legal battle could potentially reshape industry practices and set precedents for future litigation involving digital asset exchanges.
In conclusion, Coinbase's resurgence in the legal spotlight underscores the growing pains of the cryptocurrency industry as it grapples with regulatory uncertainties and legal challenges. As stakeholders await further developments, the case serves as a litmus test for the evolving dynamics between cryptocurrency exchanges, regulators, and investors in an increasingly scrutinized market landscape.
COIN BASE pull back before it goes to higher and highter.now the coin is most use to trade. now day the coin is the famous currency to trade and invest especially small Crypto.
COIN on Discount As we know, last week there was bearish divergence. Now that we broke trend, there’s a magnet pulling price towards the next level of support. This has made my top watch next week as I’m hoping for continuation to gap below at 200.
Ark Invest Sells $6.4 Million Worth of Coinbase SharesArk Invest, the investment firm led by Cathie Wood, has sold an additional 25,662 shares of Coinbase ( NASDAQ:COIN ), worth $6.4 million, as part of its ongoing re-balancing strategy. The firm sold 22,690 shares worth $5.7 million from its Innovation ETF and 2,972 shares worth $742,000 from its Next Generation Internet ETF. This marks the first major sale of Coinbase ( NASDAQ:COIN ) shares by Ark Invest since it offloaded $21 million worth of the stock in March 2021. The firm's investment strategy aims to maintain diversification within its funds by not allowing any individual holding to take up more than 10% of an ETF's portfolio. As Coinbase's stock price continues to rise relative to other holdings, Ark Invest will likely continue to re-balance its fund weightings.
Oppenheimer, a New York-based investment bank and financial services firm, recently raised its price target for Coinbase to $276, up from a previous target of $200, while reiterating its buy rating. According to Oppenheimer's Executive Director, Owen Lau, the adoption of digital assets continued after the approval of spot Bitcoin ETFs in January, and the firm estimates that Coinbase's trading volume will increase by 95% quarter-on-quarter and 107% year-on-year to $300 billion. Oppenheimer's price target is 10.5% higher than Coinbase's closing share price of $249.61 on Thursday. Coinbase ( NASDAQ:COIN ) currently has a market value of $46.4 billion.
Technical Outlook
Coinbase ( NASDAQ:COIN ) stock is trading above the 200-day Moving Average (MA) with a moderate Relative Strength Index (RSI) of 53.70 not indicating a clear cut of the stock abode. NASDAQ:COIN is down by 1.67% as at the time of writing aiming towards the Support Level of $228 mark.
COIN, BTC: An Interesting Fractal I Found; Macro Analysis
The Coinbase ( NASDAQ:COIN ) 4-hour chart is a perfect fractal of the Bitcoin weekly chart. Good ole' Wyckoff distribution. It even has the little Bart Simpson correction pattern from August 2020 that occurred shortly after the last halving and a few months before the first big leg up.
Considering current price action, Bitcoin and Coinbase, for that matter, will potentially be kicking off their fifth and final HTF waves up following what are likely to be multi-month consolidations. The next few months could resemble a less severe version of the "mini bear market" the crypto market experienced in the summer of 2021.
In BTC, I'm looking for stretch downside targets of around 56k and around 51k if 56k breaks. If it gets all the way down there, it would be a gift. On shorter time frames, assuming the 69k/70k resistance is not breached, there is likely more downside to come for both assets. Corrections to the upside should be approached with caution.
On COIN, an S/R flip under the fib fan's 50% level is all but confirmed on the 4-hour chart. If historical price action is any indication, this fractal suggests that testing the 0.618 is definitely in the cards. I'm eyeing $220 as a potential target. It's supported by a strong demand zone and the weekly VWAP.
Sentiment should remain relatively bullish on higher time frames so long as 50k isn't breached.
COINBASE-SELLstrategy daily chartThe chart has formed an M-top and based on that assumption, and besides we still very overbought weekly and monthly, the likely situation is, to see a move towards objective $ 190 based on M-Top.
Overall am seeing a chance of $ 155 area.
Strategy SELL @ 250-270 and take profit @ 191.00 for now, but on weekly chart more chances of lower levels. SL above $ 288 for now.
