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COINBASE GLOBAL INCCOINBASE GLOBAL INCCOINBASE GLOBAL INC

COINBASE GLOBAL INC

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COIN trade ideas

COIN: bottomed out at 40.83, Opportunity to buy dipCOIN bottomed out at 40.83 Coinbase stock’s price performed quite poorly since April 2021 which saw price fell from the high of 429.54 to 40.83 40.86 (almost 90% loss). Despite overall bearish sentiment, stock has bottomed out at two points (40.83 and 44.15) during May and Jun 2022. It seems that market has priced the worst-case scenario. Therefore, it is likely that area between 40.83 and 44.15 holds for the balance of 2022. Upside potential would also be limited to area between 85 and 100 at best during 2022. Price rally has faded Analysis of short-term pattern and price action shows that recent rally which started since July has been soften considerably. In short-term, bearish bias is likely to push price down toward 60 and lower to 50. Therefore, strategy should be focused on taking advantage of price weakness rather than trend following. Opportunity to buy dip around 46 & 54 If we assume that stock has bottomed, any price weakness could create an opportunity to buy dip. Support zone would be the area between 46 and 54. Coinbase stock is likely to stay withing a wide trading range between 45 and 85 by the end of Dec 2022.
NASDAQ:COIN
by Quantific-Solutions
COIN LONG = Ascending Megaphone PatternNASDAQ:COIN COIN downrended from November 2021 to later July loosing 85% of its price along the way. Having completed its reversal, it is now up trending in a megaphone pattern reflecting increasing volatility. Relative volume has increased. I have plotted in mid-Fibonacci levels. I see this as a swing long setup, and will take the trade setting up the stop loss as the market low late July. Targets include the Fibonacci levels as well as where price hits the mid=line of the megaphone where it could break through or bounce in this high volatility zone. I will leave a runner to see if price can eventually reach the late 2021 price level especially if the crypto market undergoes a resurgence.
NASDAQ:COINLong
by AwesomeAvani
13
Bullish Divergence on 1hr RSI For Coinbase There is a bullish divergence on the 1hr RSI for Coinbase. This is a bullish reversal pattern found at bottoms… but it is also a pattern that appears in the midst of long downtrends. In words, the pattern is there, and it is a bullish reversal pattern, but it has a somewhat low success ratio when found in a steep downtrend. Further, this is a single bullish indicator in another wise brutal bear market. All that said, it’s worth noting this divergence is also present on different time frames on btc… and on other charts and time frames. Bottomline: We are in a bear market in a downtrend, so a bullish divergence on a 1 hour time frame doesn’t carry much weight.
NASDAQ:COINLong
by hi8798798
1
Short-term and intermediate-term targets for COIN (ICT)ICT traders and "SMC" traders will be familiar with most of the Market Making ideas on here. For traders who aren't familiar with any of the terminology: Buyside Liquidity refers to where we expect Short positions to get stopped out when Price runs on old Highs. We anticipate Order Pairing at these levels where Smart Money Sell Orders are paired with losing Short traders who're forced to Buy at a "Premium." Sellside Liquidity refers to where we expect Long positions to get stopped out when Price runs on old Lows. We anticipate Order Pairing at these levels where Smart Money Buy Orders are paired with losing Long traders who're forced to Sell at a "Discount." I won't explain what Order Blocks are in detail here. I'm not an expert on Order Block Theory and ICT teaches it over on his Youtube Channel for free. Basically, we're looking at theoretical price levels that should be "supported" or "resisted" in the traditional retail trading sense based on Institutional Order Flow. Scenarios I'm considering: 1) Price runs down to the Preliminary Target and then makes a small rally back to the Gap before reversing back again to make an aggressive run down to the Main Target levels. After the Main Target has been reached, we'd anticipate an aggressive rally back up. 2) Price crashes straight through to the Main Target levels (short-term Bearish ) and then rallies to target the Gap (intermediate-term Bullish ) and to potentially higher Buyside Liquidity levels (with the darker green areas representing more ambitious Price Targets). 3) I'm wrong and Price recovers at the current choppy Gap Filling area and rallies straight up to take out the Buyside Liquidity immediately. 4) I'm completely wrong and Price does nothing that I'm anticipating based on the logic I've outlined here. Some traders might wonder how what I've outlined is any different from traditional Support / Resistance levels or Supply / Demand zones. The main difference is the logical framework around liquidity and order flow combined with ICT's Top-Down approach and Time & Price Theories. ICT traders are anticipating targets based on an Imbalance or old Highs and Lows. We're always thinking "to and through" as opposed to the Price respecting some Support / Resistance level unless there is a valid context such as Institutional Order Flow. If you're interested in the concepts here, you can check out ICT's Youtube channel. I'm not affiliated with ICT in any way and I'm not a paying student of his. He's been making most of his elite content available for free in 2022, so everything I've learned is through his free content. Most of the "SMC" concepts out there are taken from ICT, so I would recommend going to the source to learn. Note that ICT does not consider volume. I used to rely on volume all the time, especially when applying Wyckoff and "VSA" strategies. I no longer consider volume as much as before, but I do glance at volume (real and tick volume) for markets with centralized volume across a long span of time on the HTFs to make sure there is confluence with my theories around accumulation, re-accumulation, distribution, re-distribution, and manipulation. This is why I bothered to mention it on the chart (orange box) where we do see a heightened level of contracts traded within this range. Also, we know that Cathie Wood and other institutional investors have an interest in accumulating within this range. That said, I still prioritize HTF liquidity narratives over anything based on volume.
NASDAQ:COIN
by Intermarket_Trader
15
$COIN going on vacation selling putsGoing on vacation out of the country for a few weeks. I like selling OCT $60 puts as an idea to help pay for the trip and more of a hands off strategy. Coin is down -10% today and been putting in high beta moves. However with a nice volume shelf and demand in the 60 zone, I don't mind selling cash secured puts for 6.75 in credit. Worse case, I get assigned and start wheeling on this juicy name. Will start trimming at +30% or so depending on time. I really don't want to be checking the market while on vacay though. Cheers
NASDAQ:COINLong
by FriscoTrades
8