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$COIN about to go sub $100While I'm a long term bull on NASDAQ:COIN , I think in the short term we're heading much lower. Was originally thinking that this move would bottom in the $140-150 range, but I now think that it's likely that we see a correction down to the gray box. If we look at the chart, NASDAQ:COIN formed a double top off the trend line. If we look at what happened last time this happened, price fell 85%+ down to the lows. I think something similar is about to happen where price falls quickly from here down to the gray box before end of the year. That should present an amazing buying opportunity and then I think NASDAQ:COIN will enter it's next bull market which should take price well above the trend line. Let's see what happens over the coming months.
NASDAQ:COINShort
by benjihyam
24
Coin FibsOn the Monday scare Coin interestingly dropped right to a previously marked fib, within two days the stock has rallied right back to the golden ratio. This goes to show you how nonsense market fear reactions are, had you longed at the golden fib, let the stock dump to the green, doubled your long position and dropped your basis immensely youd be sitting pretty right now as it approaches the channel again. -There is still work to do on this recovery, I think Coin usually precedes BTC moves -I expect a slow grind back to the 20EMA (red) -In sept/Oct I think we see a strong push to my target of 279$
NASDAQ:COINLong
by Apollo_21mil
3
COIN short to $150?!While we wait to see this larger triangle (in white) play out, I see an interesting potential short on Coinbase. It looks to me that despite an arguable crypto bull market, Coinbase might need to retrace and set some new bullish technical structure -- perhaps an inverse head and shoulders, or bull flag -- before moving up later this year. Momentum indicators also suggest a bearish turn is on the horizon. I've marked my TP zone in cyan and plan to take some off the table almost immediately if we get an impulsive move down. Important caveat: I recognize that we've been trading in a parallel channel (yellow) for about 150 days, which might imply a bounce. In the medium term, I also think NASDAQ:COIN is likely to break this white triangle bullishly, rallying with a broader move up in the crypto markets.
NASDAQ:COINShort
by dawsonMoonshot
1
Coinbase UpdateMan am I glad I set that stop last week. It was a tiny position, but I got out at point of entry so lost zero dollars. I honestly hadn't looked at crypto weekend until tonight and boy has it taken it on the chin. SOL will be down about 34% from last Monday and 23% just since Friday. BTC is down $16K in one week and $11K since Friday. Needless to say, I find it HIGHLY likely that COIN will open down BIG tomorrow a.m. bar something huge happening. It looks like to me that price is making a more direct move for my larger target box. This suggests that the atrocious pattern off the $272.50 high was in fact a 5-wave for wave 1 of (C) of ((4)). That in turn implies that we're currently in wave 3. I would assume that with such a strong drop some investors will take the opportunity to buy some COIN shares at what they perceive as a discount (it technically is) which would kick off / carve our wave 4. This all assumes that Coinbase opens way down tomorrow. I find it a very real possibility that we hit my larger target box tomorrow, but structure needs to create positive divergence and create a wave 4 & 5 before a bottom can be made. Tomorrow will be very interesting indeed!! Don't forget, I have essentially had this same target box for almost two months now for a wave ((4)) ending.
NASDAQ:COIN
by TSuth
1
Coin loses the channelCoin has been in this rising channel for months. I did sell my entire position at 250$ but I like to use this to give me a heads up on BTC price action. I do expect Coin to possibly retest the golden fib around 200, but earnings is tonight. If Apple, Amazon, and Coin have solid earnings and guidance we could pump right out of this, the expectations for everything will be very high here. -Short term 200ish -If earnings is strong a pump back into the channel around 230$ -If the market falls apart we are going back to 150$
NASDAQ:COINLong
by Apollo_21mil
Coinbase (COIN) Set to Report Q2 Result Tomorrow: What to ExpectCryptocurrency company Coinbase (NASDAQ: NASDAQ:COIN ) is set to report its Q2 earnings tomorrow after the bell. As one of the leading platforms for buying, selling, and managing cryptocurrency, Coinbase's performance is closely watched by investors and analysts alike. Here’s a detailed look at what to anticipate from the upcoming report. Recent Performance In the last quarter, Coinbase delivered impressive results, surpassing analysts' revenue expectations by 19.4%. The company reported revenues of $1.64 billion, marking a 112% year-on-year increase. This strong performance also saw Coinbase exceed earnings per share (EPS) estimates, signaling a solid quarter for the cryptocurrency giant. However, it's worth noting that monthly active users (MAUs) fell by 4.8% year-on-year, totaling 8 million. Expectations for Q2 For this quarter, analysts are predicting a continuation of strong revenue growth, with an expected increase of 92.8% year-on-year to $1.36 billion. This anticipated growth reflects a reversal from the 12.4% decline experienced in the same quarter last year. Adjusted earnings are expected to come in at $0.87 per share, which would mark another solid performance for Coinbase if met. Analysts’ Consensus Over the past 30 days, analysts covering Coinbase ( NASDAQ:COIN ) have largely reconfirmed their estimates, indicating a belief that the company will stay on course heading into its earnings report. However, it's important to consider that Coinbase ( NASDAQ:COIN ) has missed Wall Street's revenue estimates twice over the last two years, adding a layer of uncertainty to the upcoming results. Peer Performance Examining Coinbase's peers in the consumer internet segment offers some insight into broader industry trends. Pinterest reported a year-on-year revenue growth of 20.6%, meeting analysts' expectations, while Netflix saw revenues rise by 16.8%, also aligning with consensus estimates. Despite these positive results, Netflix's stock traded down 1.5% following their earnings announcement. This mixed reaction from the market could be a sign of cautious investor sentiment. Market Sentiment In general, investor sentiment in the consumer internet segment has been positive, with share prices up 2.5% on average over the last month. However, Coinbase's stock price has remained unchanged during the same period. As the company heads into its earnings report, the average analyst price target for Coinbase stands at $257.8, compared to the current share price of $224.22. Challenges Ahead: FCA Fine A significant issue looming over Coinbase ( NASDAQ:COIN ) is the recent fine imposed by the Financial Conduct Authority (FCA), a U.K. financial regulator. On July 25, 2024, the FCA announced that it had fined Coinbase's U.K. unit, CB Payments Limited (CBPL), approximately $4.5 million. The fine was issued for repeatedly breaching a requirement that prevented the firm from offering services to high-risk customers. The FCA cited a lack of due skill, care, and diligence in the design, testing, implementation, and monitoring of the controls put in place to prevent such violations. This regulatory setback could impact investor sentiment and pose a challenge for Coinbase as it navigates its compliance obligations and works to restore its reputation. Technical Outlook Coinbase stock ( NASDAQ:COIN ) has experienced a notable increase of 5.5% in the pre-market trading session on Wednesday. This rise in stock value reflects a strong and positive sentiment among investors as they anticipate the upcoming Q2 financial reports, which are scheduled to be released tomorrow. The excitement surrounding these reports suggests that a robust earnings performance could potentially propel the stock price of NASDAQ:COIN towards the significant resistance level of $250. Conversely, if the earnings report falls short of expectations, it could result in a decline, pushing the stock down to the support area around $202, which is notably below the recent one-month high that the stock had achieved. In terms of technical analysis, the Relative Strength Index (RSI) currently stands at 45. This level indicates a state of balanced momentum between bullish and bearish sentiments in the market as traders and investors await the Q2 results. It's important to note that such anticipation can sometimes lead to gaps in stock prices, reflecting the uncertainty and volatility that often accompany earnings announcements. As the market prepares for this critical information, both sides are poised to react based on the outcomes, which could significantly influence the stock's trajectory in the near future. Conclusion As Coinbase prepares to report its Q2 earnings, investors and analysts will be watching closely to see if the company can continue its strong performance from the previous quarter. While expectations are high, the recent FCA fine adds a layer of complexity to the company's outlook. Despite these challenges, the overall positive sentiment in the consumer internet segment and the reaffirmation of analysts' estimates suggest that Coinbase remains a key player to watch in the cryptocurrency space. Stay tuned for the earnings report tomorrow after the bell, as it will provide crucial insights into Coinbase's performance and future prospects in a rapidly evolving market.
NASDAQ:COINLong
by DEXWireNews
COIN Bull FlagI was curious about how BTC would react if semiconductors and NQ dumped. So far, it seems like it may actually be decoupling from NQ. I wasn't sure if this would happen or not, but I am remaining bullish on crypto for now. I have no other longs in the market. BTC held the $66k area, but hasn't bounced much yet. COIN is red, but holding up fine. Currently has a bull flag on the 15m that may lead to a breakout if BTC can sustain itself despite NQ weakness.
NASDAQ:COINLong
by AdvancedPlays
COIN: Support and resistanceMay be we all should get ready for the next bull run in 2024 and 2025. When BTC goes above 40k, the stocks related to crypto will just go crazy. This chart is just a representation on where to take profit and where to buy. I guess COIN might hit the ATH by mid of 2025. First crypto second capitulation then create a base and then halving and then enters bull run. Hope COIN will not get into controversy or bankruptcy and make future millionaires. See you in 2024 and 2025. Cheers
NASDAQ:COINLong
by MarathonToMoon
1
COIN - breaking out of symmetrical triangle patternOn a daily time frame as well as on the weekly time frame, COIN is breaking out of the symmetrical triangle pattern. Earlier, COIN tried to break the upper trend line multiple times but couldn't close above the trendline on a daily closing basis. On last Friday (07/19/2024), COIN closed above the trendline confirming the break out. Plan for me: I would be interested to go long in case we get a pull back to 255/250 area and COIN holding that levels. Possible targets for me Target 1 - 265 Target 2 - 275 and ATH level test Stop loss would be loss of 247 on a daily closing basis. Something to keep a note of, COIN has ER on 02Aug2024. PS: Point of entry for me depends on where we open on Monday in case we gap up
NASDAQ:COINLong
by adkis
1
COIN (Long) - Rearing its bullish head Mentioned several times across my charts, but still important to mention, I am a strong proponent of simple charts , preferring to rather watch price action for days on end - the robust reversal in crypto and this NASDAQ:COIN 's nearly perfect base are hard to miss Fundamentals For those who don't know, in the last few weeks, crypto has exhibited some of the lowest correlation with broader stock market ever, consolidating when market was rallying, and recently, surging higher while market was falling. Although we cannot completely discount stock movement (Coinbase is after all a stock), the directionality of the crypto markets seems to have the upper hand with stocks like NASDAQ:COIN and NASDAQ:MSTR In more granular terms, the firm has been performing strongly , with a swarm of institutional clients (selecting Coinbase as the most trustworthy custodian), robust revenue growth (50% in the last 12 months) and impressive profitability (net profit margins above 25%) The valuation is not cheapest, but we know better than to be scared off by P/E between 40-50 (read William O'Neill for more info on this)... but this is not what attracted me to Coinbase this time - that will be the chart Technicals Firstly, crypto charts, mainly Bitcoin CME:BTC1! , look strong - orderly accumulation with potental for new highs going into the election (seasonally strong period) Strong, round accumulation base , although I would have liked one more leg down to the base before the breakout, but asking for perfection is not how markets work RSI is positive and rising (though a little choppy) while the distance from moving averages gives you good risk/reward and historically marks breakouts (doesn't mean that will repeat!) Strong base, robust momentum, good group performance (crypto) and incoming catalyst (earnings) I have entered the trade today, exactly on the breakout. Personally, I will use the entry (purple line) as a stoploss, potentially re-enter if the pattern allows it. Timeframe is 3-4 months. Alternatives include (i) waiting for a break on earnings (ride the momentum, more certainty, but less potential for appreciation), (ii) waiting for the break of the higher high (better confirmation of the breakout or (iii) use the bottom of the base for stoploss (higher risk preferences). Fake breakouts and slumps on earnings should be used to exit. Hope this gives a good overview. I believe the seasonality (high spending around elections = political window-dressing) favours both crypto and stocks for medium-term outlook (and I understand how frustrated everyone is that we haven't had a crash - don't forget, pessimism will lose you money 90% of the time. If you like my content, Please leave a like, comment or a donation , it motivates me to keep producing ideas, thank you :)
NASDAQ:COINLong
by jurajholik
2
Coinbase UpdateThere are multiple different counts/pathways that price could take from our current position. Crypto has continued to rise over the weekend so I find it highly probable that Coinbase will open higher and very possibly have another big day tomorrow. The question is, will that last? Now for the possible pathways that price can move from here. As you can see there a couple turquoise labels on the chart. These are my ALT counts as of now. What they are suggesting is that wave (B) wasn't quite done yet and we're now in minor wave C of (B). If price breaches our last high of $263.77 this will become my primary. Until price can breach the primary wave ((3)) high of $287.46, this is still a valid count and will remain my primary until/unless price can breach that high. I have redrawn the retracement fibs on the chart and the 0.786 @ $267.12 is the next main line of resistance. I have also drawn green extension fibs on the chart which govern the abc pattern should this still be in wave (B). My white count on the chart, is still my primary and structurally is still 100% valid. However, unless BTC starts to tank overnight, I feel my ALT will become my primary count. We will have to wait until tomorrow for the answers we seek, but nonetheless, I feel we should get some answers as to our immediate pattern at the least.
NASDAQ:COIN
by TSuth
6