$COIN Continuing to Respect Bearish OrderflowIn short COIN is showing a constant respect to bearish orderflow while in discount. I expect to see $89 before any buying is to be considered personally.
COIN trade ideas
COIN Completes First Post-IPO BottomAs the first of its kind, this young company has a bright future.
Weekly chart: NASDAQ:COIN has completed its first post-IPO bottom formation and is holding above the completion line despite some selling down in recent weeks.
The company reports Feb 15th. The fundamentals are most likely at or near the bottom completion level. The run up became over-speculated so a minor correction is underway that can dip into the completion level, but support from the bottom formation is strong with Dark Pool buy zone patterns.
Coinbase Update: Waiting for confimrationAs I said in my last post, I think it very likely that the bottom is in. Just as with every other bottom or top though, you need confirmation before saying one way or the other. The first bit of confirming data you want to look for, is a clean 5-wave move higher followed by a 3-wave retrace forming a healthy 1-2. Right now, this doesn't look like a clean 5-wave structure forming on the micros. Instead, it looks more corrective like an ABC, but I could see how one could possibly see an impulsive count forming. One thing of note is we breached the trend line and have thus far stayed above it.
MACD is sending mixed signals at this time, but we do have pos divergence still. As stated in my prior post we should get confirmation one way or the other soon. As of now, I only own 10 shares with a HARD stop @ $114.43 which is the invalidation point for this count. If we get confirmation, I will most likely buy more shares along with a few calls. The next larger target to the upside is $190 @ a minimum.
Just s y'all know, beginning February 23rd, I will be dramatically changing my posting schedule here on trading view. My last regular post will be on that day.
Coinbase Update: Did we just finish an ED?Today confirmed my ALT count which suggested we needed another low to finish out this move down. When I started looking at it tonight, after analyzing Tesla and Rivian, I spotted what I believe to be an ED that just finished. If this is the case, then that means we made a bottom today in Coinbase!
We're in the target box, hit the 1.236 (common end point for abc's), made a new low on pos div, and stayed above the 0.5 fib / wave (1) high. Another low can't be ruled out just yet, but we don't have much more room left to fall without invalidating the count. That invalidation point is $114.43 which is where my hard stop is. Should we breach this price point, I feel we will fall much lower (sub $90 at a minimum).
I feel tomorrow should answer that immediate question for us if not then by Wednesday.
COINBASE Has it found a bottom? Caution if it breaks this level.Last time we looked into Coinbase (COIN), we set a long-term target of $150 (November 14 2023, see chart below) that was easily surpassed:
At the moment the stock is on a short-term pull-back following the rejection near the 1D MA50 (blue trend-line). It is approaching a dangerous level, the 0.5 Fibonacci of the Channel Up, which is its middle but most of all the 116.50 level which is the former Resistance level (two Highs on August 04 2022 and on July 14 2023) that could now turn into Support.
If it holds, we can expect a rebound targeting $285, which would be a +146.82% rise, above the top (Higher Highs trend-line) of the Channel Up. If it closes a 1D candle below it though, we expect the price to seek the maximum % decline it has had within this pattern, -47.15%, which would bring the stock around $100 and would be technical test of the 1D MA200 (orange trend-line) and an excellent long-term buy entry, which is what took place on the October 27 2023 bottom. In that case a +146.82% rise would be $245.00 and that would be our Target. Note that at any given price, if the 1D RSI hits the 1-year Support Zone, it will be a solid buy entry regardless.
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Coin losing golden fibThe markets are getting crushed today and I believe this will be the second washout for Coin. OBV is testing to the downside which indicates sellers taking control, momentum is slowing. Coin already hit my first downside target and I marked a second area of interest at 110$. I have conferred with a few other long-term traders and 85$ is the most bearish scenario we agreed upon. I am waiting for a dip buy here as I believe Coin will be a huge player in the crypto markets going forward. They have registered to become a digital asset bank, I expect them to win more lawsuits, and their custodial services for the ETF are likely not fully understood.
Coinbase Update: Daily Chart/Larger CountAs the title suggests, I wanted to zoom out and give everyone a clearer picture of the larger count. Clearly by the price action we're seeing, structure is still in its wave ((3)). Wave (2) & (4) appear to have alternation, which is very important in a healthy impulsive count. Looking at the daily MACD, it appears to be curling up for the start of this wave (5), and it made its high at the wave (3) peak as expected. This should allow us to move higher in (5) and carve a lower high on MACD.
This picture that price action is painting for us, coupled with the BTC ETF and other developments for Coinbase, I feel are very good omens for what is coming. Again, fundamentals/news are already baked into the equation with EWT, but that doesn't mean you can't use them to help validate or invalidate your thoughts on the count/structure. One thing I really like seeing, is when I predict where price is going to move, and then afterwards I see other analysts starting to come to the same conclusion/targets.
All this being said, my thesis stands. We have hit all the standard targets and could take off in (5) from here, or we could make one more slight low to the yellow box in my last post before raising. Price action in the micros suggests another low, but they can be deceiving, and the larger count is saying its ready for lift off. Time will tell, but if we make another low, I will load up on more shares and buy some calls.
Coinbase Update: 01/30/2024Not spending a lot of time on this post as I have been very clear on my expectations with Coinbase. Looking at the 3min MACD, the choppiness of price action, and the structure that has been carved out since the 19 Jan low my ALT seems ideal. So, from here I expect us to drop to the yellow box before lifting off. There is a slim possibility the bottom has already been made but as with Tesla and Rivian this would be a sloppy way to start the next move higher. I've seen crazier things though. I will update tomorrow as needed.
Coinbase 2025 AnalyseHey guys and girls
after watching steves ffa analysis on 50 dollar on buy on coinbase
i thought with the knowledge i gonna read the charts my ways, lets see how it will get out.
With the fibs.,
Lets comment where u bought, i am gonna prof also , lets see if we can double or tribble our money ppl .
Coinbase Update: 1/28/24Nothing has changed from last week's Coinbase post. I feel this is most likely corrective action and we have one more slight low to make. If this is the case, then we need to make another slight high to finish this c wave before making that slight low. Once this is complete, we then take off for our next push higher. The next target is $190 at the minimum.
If this is not the correct count, then the alternative is to drop down to sub $100 easily. With Coinbase being one of the main custodians of crypto in the US, and crypto obviously in a new bull rally, I find it highly unlikely this has all been a giant ABC signaling those lower prices. IMHO, I don't think Coinbase will ever see sub $100 prices again unless something extremely unforeseen happens or the SEC starts a war with them.
COINBASE LONG LONG LONG NASDAQ:COIN stock is ready for a strong mark-up phase, as phase E of this clean 1.5-year #Wyckoff accumulation has been reached.
Coinbase longCoinbase stock is ready for a strong mark-up phase, as phase E of this clean 1.5-year #Wyckoff accumulation has been reached.
#Coinbase
Coinbase nasdaq entry pointCoinbase is approaching the entry point at the macro spot of 109. Targeting the all-time high could yield a potential gain of 280%
COINBASE LONGHi My friend i wait on cosing RSI and starting my new position on LONG. Good lucck RR looked nice :)
Coinbase Update: Start of (5) or OML to go?This latest move off the $118.02 bottom made on 19 Jan appears corrective to me. In order to create a 5-wave move I just have to really force it and when you have to force an impulsive move, it's probably an A wave in my experience. On the chart, you see a turquoise count (ALT), but this is becoming even more likely than my white count IMHO. Until the white count is proven wrong though, I leave it. This would suggest we get OMH and smack into the upper trend line I have drawn and get rejected causing price to fall to the yellow box I have drawn before raising to the upper target. Another reason I am starting to feel this way is due to MACD on the micros. It made a high at the turquoise A and hasn't breached it since. This is a tall tale sign of an A wave.
Should the white count prevail, we will rise past the upper trend line with relative ease towards the upper target box. One thing that I want to point out about MACD though, it has fallen VERY far on this retrace lower on the larger time frames. This is the deepest it has fallen since 12 May 22'. This could be due to the giant difference in price, or it could be a clue Coinbase is in some serious trouble as a company. If it turns out to be a major bear signal, sub $20 comes into view...
COIN - Rinse & Repeat 🤨Is now very close to my first re-entry target @ Accumulation support $116.3.
With a higher time frame perspective this will probably be an incredible deep buy down the road in 2026.
So if COIN is an asset that must be in your portfolio and you'll be sad if it pumps without you on board then you may decide to re-enter some of your position here (or buy for the first time if you missed the pump).
This would be the "KISS;" keep-it-simple-stupid way to make sure you dont miss the train in this stock that may well go on to wild highs.
But, thats not what i'm doing.
I think COIN may have a prolonged correction and there will likely be bounces along the way; perhaps there will be a bounce at "accumulation support."
But I'll be interested to see where COIN is should BTC get back to $31.8K.
And I think it will fall through the lower trendline of the ascending wedge and back to the retracement Golden Window where the 0.618 is @ $62.4 🤨.
Not advice
📊 Coinbase Goes Bearish (Daily & Weekly TF)29-December 2023 COIN ended on a strong bearish note, producing a candle that closed below the open of the two previous candles.
Today, 2-Jan., COIN produced a full red candle with the highest bear volume since 14-July, exactly when a wave peak was hit (high bear volume at peak prices signals that a peak was hit). These are simple signals pointing towards lower prices.
COIN and BTCUSD are closely related when it comes to price action.
Seeing the sell-off here means that Bitcoin's correction is approaching and getting closer by the day.
This can also mean that the insiders have access to information we don't have and started to sell before the herd.
As for the weekly timeframe, this week started on a extremely bearish note.
Last week closed as a Doji and bearish confirmation came in today with the strong negative candle shown on this chart.
Minimum price for this drop is around 95 within a month but it can go lower if we consider a longer time period.
Coinbase going bearish works as a bearish signal for Bitcoin; Why?
Because they move together.
➖ In January 2023 Bitcoin went bullish, Coinbase as well.
➖ From October through December '23 Bitcoin went bullish, Coinbase as well.
➖ Early 2024 Coinbase goes bearish, Bitcoin likely to go bearish as well.
Thank you for reading.
Namaste.
Coinbase would be interesting around 112 level Just taking a look at COIN.
would be nice for it to get down to around 112 per
would expect a bounce around there
Coinbase Update: Waiting on confirmationToday, Coinbase made a new high on the 3min MACD, which is a very good sign. It shows this move up, as of this writing, is healthy. This looks like a 1-2, (1-2) forming as of now. The clue I will be watching for is MACD to make a new high above todays on the 3min chart. This will signify we're most likely in a 3 of (iii) of i of our next larger wave (5). Zooming out to look at the larger MACD picture, we're on pos div on the 1Hr chart/4HR chart and have begun to show a trend change on the daily chart. These are all promising signs but until we breach $137.31 in an impulsive fashion, we don't have confirmation. I expect us to continue higher tomorrow just from looking at MACD but as y'all know there is never any guarantees. I imagine when/if we run into the upper trend line, it will give us some resistance. If this is wave (5) then we will push through it. May God bless us and make this week a good week!
COIN Wedging on the DailyCOIN has pulled back really well into a tightening wedge. Defended the bottom and now up over 3% on the day. If you zoom out to the weekly, it bounced right off the 20 EMA as well. Great spot to look for a bottom forming and a break of the wedge. Will be interesting to see how much they're making from the BTC ETF.
COIN: Approaching potential bottom, Target=160/170There is a possibility of a rebound in Coinbase stock within the key level zone of 113 to 117. Indications of a potential bottoming have been observed. The target zone for potential growth is estimated to be between 160 and 170.
Coinbase - a leading indicator for BitcoinHistorically, Coinbase and Bitcoin price action have been closely interlinked.
I pointed out that Coinbase was at Supply on the 1st January on X.
Notice how it has dropped further and this is what I expect to happen with Bitcoin.
