COIN trade ideas
COINBASE: divergence Red-trend, reversal green-trend in PREPCoinbase had a possible dip to $242 but may not. Next COINBASE target above $290.
Regression with major support and resistance OB.
Green long horizontal rectangle is demand OB.
Wall Street Projects 48% Decline In COIN Q1 EPS Despite Bull RunMarket analysts have predicted a significant drop of 48% in Coinbase's GAAP EPS in the first quarter of FY24, despite the ongoing surge in the crypto market. As Coinbase Global Inc.'s ( NASDAQ:COIN ) latest quarterly earnings report approaches, Wall Street analysts have provided their forecasts for the cryptocurrency exchange platform. Despite the ongoing bull run in the crypto market, expectations for the Coinbase Q1 2024 report suggest a substantial decline in GAAP earnings per share (EPS) of 48% compared to the previous quarter.
For the first quarter of FY24, analysts are predicting EPS of $0.54 for Coinbase ( NASDAQ:COIN ), down from $1.04 in Q4 FY23, indicating a massive decline of over 48% quarter-over-quarter. Some have questioned the Wall Street estimates, considering that the first quarter of FY24 experienced a significant bull run that even caused Coinbase's servers to crash.
Looking ahead, the projections for Coinbase's performance reveal a mixed outlook. Revenue growth is expected to maintain momentum, with a projected 54% year-over-year (YoY) increase in 2024, followed by a more modest 0.5% growth in 2025. Meanwhile, EBITDA (earnings before interest, taxes, depreciation, and amortization) is anticipated to surge by an impressive 120% YoY in 2024, but then face a 10% decline in 2025.
In addition, the situation becomes more nuanced when examining net income growth projections. Analysts anticipate an extraordinary 300% YoY surge in 2024 for Coinbase's net income. However, they also forecast a subsequent 36% decline in 2025, which could signal a potential end of the ongoing bull market.
Coinbase ( NASDAQ:COIN ) reported a profit of $273.4 million for the three months ending December 31, compared to a $557 million loss a year before. Analysts, according to LSEG data, had expected a loss of $0.1 per share. However, the surge in interest in cryptocurrencies led Coinbase Global to unveil a new chapter on Thursday, marking its first quarterly profit since 2021, fueled by strong trading volumes.
During the same period, the company also recorded a notable 64% surge in transaction revenue to $529.3 million. The stronger-than-expected outcome propelled the company's shares upward the day after the announcement, with the Coinbase ( NASDAQ:COIN ) stock soaring nearly 15% in the pre-market session that day. Additionally, Coinbase ( NASDAQ:COIN ) revealed that its subscription and services division encompasses activities beyond trading.
Moreover, the crypto exchange provided an optimistic outlook for a successful first quarter this year. It forecasted sales for the segment to range between $410 million and $480 million, surpassing the LSEG estimate of $356.22 million.
However, the results showed a decline in Coinbase's transaction revenue to $1.5 billion in 2023, marking a 36% year-on-year decrease. Furthermore, total trading volume plummeted nearly 44% compared to the previous year, standing at $468 billion.
$COIN cup and handleNASDAQ:COIN cup and handle long...
BTC hype is a positive
SEC lawsuit negative
overall still like the chart here
$420 on 4/20 for $COIN 🌬🍃💨The BTC halving is officially upon us come April. The amount of positive news around this entire sphere lately has been amazing. I'm shocked how many people I see on here shorting $COIN.
They are about to be custody holders of the SPOT ETH ETF assuming that gets approved by the SEC- whether as a security or commodity. Larry Fink is feeling very confident and Fidelity just applied as well...
Maybe I'm entirely wrong- I recognize this is unbelievably optimistic. But I'm unbelievably optimistic in Bitcoin and crypto currently. And if I'm right, this will be a 4/20 to remember.
$COIN after halvening PA, will most likely continue to $375Buy at $143 - $165 (early May, end of April), sell at $375 - $385 (in summer 2024)
COINBASE-SELL Strategy weekly chartNo change in view. The share price is likely to decline uniform with crypto corrections that may be severe in nature, is my personal view here. We got lots of topping candles, high RSI (and negative divergence as well). We should move lower to test 216.00 again.
Strategy SELL @ $ 260-290 and place SL above $ 327 and take profit @ 220, and after consolidation en route $ 150.00.
Cash In on CoinObvious Bearish Divergence should be ignored until we hit the 300 area. Currently we have a bearish pin bar on support. Enter at this level and place the stop below the low of the candle. Catch the last impulse wave up and cash in.
Judge Rules SEC Lawsuit Against CoinbaseA judge has ruled that the Securities and Exchange Commission's (SEC) lawsuit against Coinbase ( NASDAQ:COIN ), the leading cryptocurrency exchange, can proceed to a jury trial. This ruling marks a pivotal moment in the ongoing battle between Coinbase and the regulatory authorities.
Moreover, NASDAQ:COIN surged by 3.28% igniting bullish sentiments on the stock amidst court rulings and Cathie Woods stock sell-off on Coinbase ( NASDAQ:COIN ).
The SEC's lawsuit, filed in June, alleges that Coinbase ( NASDAQ:COIN ) violated securities laws by operating as an unregistered broker and exchange. Specifically, the SEC claims that Coinbase's staking program involved the unregistered offer and sale of securities. While the judge dismissed one of the SEC's claims related to Coinbase's wallet application, she upheld the allegation regarding the staking program.
Coinbase ( NASDAQ:COIN ) , for its part, has been steadfast in its defense. The company's Chief Legal Officer, Paul Grewal, expressed confidence in their legal arguments and emphasized their eagerness to uncover more about the SEC's internal views on crypto regulation. Despite the setback of the court's ruling, Coinbase remains resolute in its commitment to advocating for comprehensive digital assets legislation.
This ruling sets the stage for a potentially lengthy legal battle between Coinbase ( NASDAQ:COIN ) and the SEC. As the case progresses to trial, both parties will have the opportunity to present their evidence and arguments before a jury. The outcome of this trial could have far-reaching implications for Coinbase, the broader cryptocurrency industry, and the regulatory landscape governing digital assets.
Regardless of the eventual verdict, one thing is certain: the outcome of this trial will shape the future of cryptocurrency regulation in the United States. As Coinbase ( NASDAQ:COIN ) continues to navigate the complexities of regulatory scrutiny, the eyes of the crypto community remain firmly fixed on the courtroom, eagerly awaiting the resolution of this high-stakes legal showdown.
Coinbase's Market Outlook: A Simple OverviewSince Coinbase went public in April 2021, its stock price has taken quite a tumble. Looking at the weekly chart, we're in the middle of a downward trend, marked by a 5-wave cycle that's not looking too cheerful.
To shake off this gloomy forecast, the stock needs to climb above the peak of Wave (1), which is at $208. If it can't make that climb, there's a good chance it might revisit its lowest point ever at $31.55. There's a bit of a funny situation with the 50% extension target shown on the chart—it points to $-10, which obviously can't happen. 😅
Realistically, we're expecting the price might settle somewhere between $35 and $30, with a double bottom pattern seeming like the most likely scenario.
We'll keep an eye on things and see how it unfolds.
Coinbase UpdateI added some fibs onto the chart now that we have some more price action to the downside. Notice how we came $0.06 cents from the 1.618 extension and then retraced? This is a sign that the first mini-A wave is most likely complete, and we should raise higher towards the box for the mini-B wave. We don't have to raise all the way into the box but that would be considered a standard move.
MACD also made a new local low today helping to reinforce this is an A wave of some degree. If one were to want to try and trade this retrace, a HARD stop of $253.90 should be enacted. I myself am not going to try and long it as B waves are risky trades, but a standard move should see price bounce around $15-$20.
COINBASE-SELL strategy weekly chartNo change in view.
The share is overbought quite a bit, and also it shows clearly negative divergence. The candle stick patterns suggest topping patterns and we are supported by first GANN @ 225 area and thereafter 156.00.
I feel we should see lower levels. and knowing full well how crypto's can move, it is fair to say we could reach $ 155-175 for corrections.
Strategy SELL @ $ 260-290 and place SL above $ 305 and take profit @ $ 165 for now.
Wyckoff on COINRed arrow - selling climax
Blue arrow - automatic retest
White arrow - spring
Green arrow - sign of strength
IMO this has been a wyckoff accumulation on COIN. Mark up phase is in coming. Invalidated if price breaks below SOS trading range. As disclousure, I have long dated calls into 2025.
Not financial advise.
COIN - Plagued with bearish divergenceThere is bearish divergence on top of bear divergence on this chart. If one chart pattern gives you a leg up on the market… it is divergence, bearish or bullish. Options expiration is March 27th and I wouldn’t expect the fun to last a day longer than op-ex. It is quarterly op ex which is the most significant and tends to represent the more extreme swings in the market. Be careful out there!
Coin blasts through targetCoin visited the momentum trend line from the past momentum cycle which fell apart late Jan 2024. We are at a major resistance level here from way around the IPO drop. I expect a strong rejection here on open but who knows. A retest of 250 before a strong push to 330$ is likely and better for long-term price action.
-Short-term a test of 250$
-Medium term 330$
COINBASE Stock Chart Fibonacci Analysis 032524Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 423.60% level
3) Hit the top = 283/423.60%
Chart time frame : C
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : D
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the bottom
D) Hit the top
Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern.
When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point.
As a great help, tradingview provide these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved.
If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks.
If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
[COIN] Coinbase Long Swing Position - 2The previous NASDAQ:COIN position showcased remarkable success, delivering substantial profits with minimal risk (r:r > 100.0). Building on this triumph, a new entry is initiated with careful consideration, maintaining a small position size and stringent risk management protocols to uphold consistency and safeguard gains.
Coinbase Surges 9% as Bitcoin Resilience Ignites Crypto RallyAmidst Bitcoin's rebound past $70,000, Coinbase ( NASDAQ:COIN ) shares soar, reflecting renewed optimism in the cryptocurrency market.
Coinbase ( NASDAQ:COIN ) shares have catapulted by over 9% in the past 24 hours, mirroring the resilience of Bitcoin ( NASDAQ:COIN ) as it bounces back above the $70,000 threshold. This surge in Coinbase's share price underscores the symbiotic relationship between the leading cryptocurrency exchange and the broader crypto market, which has witnessed a remarkable 61% rally in market capitalization since the year's inception.
Trading above $278 per share, Coinbase's trajectory echoes the bullish momentum sweeping through the cryptocurrency landscape. Despite lingering below its all-time high of $342.98 set in November 2021, Coinbase's recent surge signals a renewed investor confidence amidst the backdrop of a rapidly evolving digital asset market.
While U.S. stocks experienced a slight downturn on Monday, with major indices like the S&P 500 and the Dow Jones Industrial Average edging lower, Coinbase ( NASDAQ:COIN ) shares defied the broader trend, continuing their upward trajectory. This divergence underscores the unique dynamics at play within the cryptocurrency sector, where Coinbase stands as a bellwether for investor sentiment and market trends.
Bitcoin's resurgence above $70,000 serves as a catalyst for both Coinbase and the broader crypto market, with the largest digital asset by market capitalization surging over 6% in the past 24 hours. As Bitcoin's price rebounds, market observers note parallels with gold, highlighting its qualities as a store of value and hedge against market volatility.
Robert Mitchnick, Head of Digital Assets at BlackRock, likened Bitcoin ( CRYPTOCAP:BTC ) to gold at the recent Bitcoin Investor Day conference, emphasizing its historical correlation patterns with traditional assets. Mitchnick's remarks shed light on the evolving narrative surrounding Bitcoin's role in investment portfolios, challenging misconceptions about its risk profile and correlation with equities.
As Bitcoin's rally reverberates across the crypto landscape, the GM 30 Index, representing a basket of the top 30 cryptocurrencies, has surged by 5.65% in the past 24 hours, further underscoring the widespread optimism and momentum within the digital asset market.
In the midst of market fluctuations and evolving narratives, Coinbase ( NASDAQ:COIN ) emerges as a beacon of stability and opportunity for investors seeking exposure to the burgeoning cryptocurrency ecosystem. With Bitcoin leading the charge towards new highs and Coinbase shares soaring in tandem, the stage is set for a thrilling chapter in the ongoing crypto saga, marked by resilience, innovation, and boundless potential.
Coinbase Stock: Potential Surge to $230 vs. Dip to 90$ ?The Dynamic Trajectory of Coinbase Stock: Navigating Towards $230 with a Gaze on ETF Influence
As the cryptocurrency market continues to mature, the intersection of traditional financial instruments like ETFs (Exchange-Traded Funds) and digital assets is becoming increasingly significant. In this evolving landscape, Coinbase, a beacon for the crypto economy, finds its stock at a pivotal juncture. With the stock currently priced at $118.49, there's speculative anticipation that it could ascend to $230, aligning with the 1.272 Fibonacci retracement level—a notable technical indicator used by traders to gauge potential reversal points in stock prices.
The Climb to $230: A Confluence of Catalysts
The potential surge to $230 is not unfounded but hinges on a confluence of positive market dynamics and strategic corporate milestones. A key factor could be the anticipated influx of new ETFs in 2024, tailored to cater to the crypto market. These ETFs are expected to not only broaden the investor base by offering a regulated pathway into cryptocurrency investments but also to inject significant liquidity into the market. For Coinbase, a platform at the forefront of offering access to digital currencies, the proliferation of crypto-related ETFs could translate into increased trading volumes and, consequently, higher revenue streams.
Moreover, the broader acceptance and integration of cryptocurrencies into the financial ecosystem, spurred by the launch of these ETFs, could lead to heightened demand for Coinbase's services. As institutional and retail interest in crypto assets intensifies, Coinbase's pivotal role in the ecosystem positions it to potentially capitalize on this growth trajectory.
The $90 Contingency: Navigating Potential Headwinds
However, the path to $230 is fraught with uncertainties inherent to the volatile nature of the crypto market. Should Coinbase fail to leverage the expanding ETF landscape or if broader market conditions turn bearish, the stock could witness a retraction towards the $90 range. This potential downturn could be exacerbated by regulatory hurdles, competitive pressures, or shifts in investor sentiment, underscoring the importance of strategic agility and market adaptation for Coinbase.
2024: A Pivotal Year for ETFs and Coinbase
The year 2024 stands out as a watershed moment for the crypto market, with the expected launch of numerous crypto-focused ETFs. This development is poised to bridge the gap between traditional finance and the burgeoning world of digital assets, offering a new vista of growth opportunities for platforms like Coinbase. As these ETFs come to fruition, they could significantly impact Coinbase's market position, either by propelling the stock towards the $230 mark, reflective of robust growth and investor confidence, or by testing its resilience in the face of market adversities.
Conclusion
The trajectory of Coinbase's stock in the context of an evolving crypto ETF landscape encapsulates the dualities of opportunity and challenge. While the potential ascent to $230 symbolizes a milestone of growth and mainstream acceptance, the risk of a decline to $90 serves as a reminder of the volatile and unpredictable nature of the crypto market. For investors and market watchers alike, the unfolding dynamics of crypto ETFs in 2024 will be a critical factor to monitor, offering insights into not only the future of Coinbase but also the broader digital asset ecosystem.
Understanding the Dynamics of Crypto Investments: A Disclaimer
It's important to recognize that the realm of cryptocurrency investments is marked by its volatility and complexity. As we explore potential scenarios for assets like Coinbase stock or the broader impacts of new crypto-focused ETFs, it's crucial to underscore that these discussions are purely speculative and serve to inform and entertain rather than advise.
Cryptocurrency markets are highly unpredictable, influenced by a myriad of factors ranging from regulatory changes and market sentiment to technological advancements and global economic conditions. While the potential for significant returns exists, so does the risk of substantial losses. As such, any investment in cryptocurrency or related financial instruments should be approached with caution and due diligence.
Disclaimer: Not Financial Advice
This content is provided for informational purposes only and should not be construed as financial advice, endorsement, or recommendation of any specific investment strategy or financial product. The scenarios and outcomes discussed are hypothetical and based on assumptions that may not materialize. Investing in cryptocurrencies and other financial markets carries risks, and decisions should be made based on your own analysis, risk tolerance, and financial situation. It is highly recommended to consult with a qualified financial advisor before making any investment decisions.
The future of the cryptocurrency market and assets like Coinbase stock remains uncertain, and while opportunities for growth are evident, they come with their own set of risks and challenges. Navigating these waters requires a well-informed strategy, a clear understanding of your investment goals, and a readiness to adapt to changing market conditions.
Remember, the key to successful investing is not just in predicting market movements but also in planning for various outcomes, understanding the risks involved, and managing your investment portfolio with a balanced and informed approach.
COIN, Inverse Head and shoulders pattern?COIN could be forming an Inverse Head and Shoulder's pattern if this $ 50 area holds.
Validation above the $ 85-90 area.
Target is the distance from the bottom to the top of the shoulders which also happens to coincide with the 100 EMA.
TCD
Cathie Wood's Ark Invest Dumps $123M Worth of Coinbase stockCathie Wood's Ark Invest has divested approximately $123 million worth of shares in Coinbase ( NASDAQ:COIN ) and Robinhood ( NASDAQ:HOOD ) this week, signaling a significant shift in sentiment towards cryptocurrency-related stocks.
Ark Invest, known for its bullish stance on disruptive technologies, made headlines as it offloaded substantial holdings in both Coinbase ( NASDAQ:COIN ) and Robinhood amid a surge in their stock prices. However, the timing of the divestments coincided with a notable slump in the prices of these companies' shares, raising questions about the firm's outlook on the crypto market.
The divestment spree began on Friday, March 22, with Ark Invest selling off about $55.60 million worth of NASDAQ:COIN stock. The firm's ARK Innovation ETF (ARKK) witnessed a massive dump of 151,271 Coinbase shares, while ARK Next Generation Internet ETF (ARKW) and Ark Fintech Innovation ETF (ARKF) also registered significant divestments.
This sell-off continued throughout the week, with Ark Invest shedding approximately $52.27 million worth of Coinbase stock on Thursday alone. The total weekly divestment amounted to a staggering $115.16 million, reflecting Ark Invest's bearish stance on crypto stocks in the short term.
The timing of Ark Invest's divestments is notable, as it coincided with fresh 52-week highs for both NASDAQ:COIN and NASDAQ:HOOD stocks. However, the subsequent slump in prices following Ark Invest's sell-off raises questions about the firm's rationale and outlook on the crypto market.
Cathie Wood's bearish outlook on crypto stocks contrasts with her firm's previous investments in disruptive technologies. This shift in sentiment suggests a cautious approach towards the volatile crypto market, with Ark Invest opting to reduce its exposure to Coinbase and Robinhood amid uncertain market conditions.
While the massive dump from Ark Invest may raise concerns among investors, it also highlights the firm's proactive approach to managing its investment portfolio. By reassessing its positions in response to changing market dynamics, Ark Invest aims to navigate the volatile crypto landscape while maximizing returns for its investors.
Could coin surpriseThere's been a lot of news lately about the crypto industry at large. This has meant people being bearish on crypto as well as on COIN and predicting a crash in coin stock. However, I think retail are being fleeced again by institution. They dumped the stock on retail after IPO and are hoping to scare retail into selling them back those shares at lower princes. I am long but will be taking profits as we march on.
Please like.
Not investment advice.
