$COIN - Update: Buy + TPHello Friends,
For those of you looking to capitalize on NASDAQ:COIN you may want to add to your position, or start accumulating for the first time.
My original post:
UPDATED IDEA:
NASDAQ:COIN moving nice with CRYPTOCAP:BTC in this 2024-2025 Bull Run!
Remember, NASDAQ:COIN basically mimics CRYPTOCAP:BTC so we want to trade them in a similar fashion.
As you can see NASDAQ:COIN is still trading below the $368.90 High & the ATH of $429.54.
I am expecting those levels to be traded to as CRYPTOCAP:BTC continues higher.
The chart showing "Swing Protection TP 1" based on our current swing we left ($283-$149) is giving us a projection of $419.61.
That being said, if you wish to add to your NASDAQ:COIN holdings at ~$318 (or lower), you have upside available to take profits.
Please note: $429.54 ATH is a good objective.
Will NASDAQ:COIN go higher with this bull run? IT all depends on when CRYPTOCAP:BTC tops out - I will update you then or follow along with my CRYPTOCAP:BTC exit strategy...
Check out this link for my BTC Exit Strategy :
4COIN trade ideas
Coinbase is a buy buy buy on 3HOk, my indicator says it’s a buy.
And here is why
Based on the chart provided and visible indicators, TA as follows
Observations:👀
1. Market Structure:
• Break of Structure (BOS): Indicated near key price levels, suggesting shifts in market sentiment.
• Change of Character (ChoCH): Points to a potential reversal in the price trend.
• Recent BOS shows a bullish bias, with price potentially respecting higher lows.
Then we have 👌
2. Key Price Levels:
• Support Zone: Around $240–$250. This area appears to have provided strong demand, as indicated by prior bounces and green arrow annotations.
• Resistance Zone: Around $320. This is a zone where price failed to break above previously.
3. Indicators: 🔮
• Oscillator Signals: The lower pane shows stochastic oscillators or similar, with a recent crossover at oversold levels. This supports a potential bullish move.
• Trend: While the higher timeframe trend may still be in flux, the 3-hour timeframe suggests a short-term recovery opportunity.
4. Bullish Momentum :
• Green arrow suggests an anticipated upward movement towards the mid-range zone (around $280–$320).
• Repeated interaction with BOS zones reinforces the potential for a bullish breakout if momentum sustains.
😎 The Likely Direction :
• Short-Term (3H): The price is likely to test the $280–$300 range, given the buy signal and proximity to a demand zone. Watch for further volume confirmation and rejection signs at these levels.
• Medium-Term: Breaking above $320 resistance would confirm stronger bullish momentum. Conversely, a breakdown below $240 support could invalidate this analysis and signal bearish continuation.
Recommendations : (but not financial advice)
1. Look for confirmation near $280–$290 with volume and price action before entering a trade.
2. Set a stop-loss just below $240 to manage risk effectively.
3. Consider scaling out profits near $320 if price reaches resistance.
Follow me, emoji rocket this, if you found it useful (or true) 😅👌🙏
$290 climb or further downside?BLUF: COIN may run to $290, $305 upon break to upside of bearish pendant. Or if COIN closes below $270, further downside with $250 and $220 targets, respectively.
When I analyze charts using technical analysis, I search for trend lines, support & resistance, divergences, and patterns (not necessarily in this order). I also analyze multiple time frames including the 15m, 1h, 2h, 4h, daily, and weekly candles with the premise that higher time frames give the “big picture,” or the overall trend, while the “smaller timeframes” provide details about price action, momentum, and identify key areas of entries/exits. My goal is to trade with the dominant trend, but only at key support areas or pullbacks to maximize my profit.
In the case of COIN, I assess the following:
Weekly: Bullish
Upside breakout from a cup + handle pattern.
Pullback from $350 area after several negative divergences.
Two rejections around the $260 area, a 38% retracement, establishes support.
ADX and DI indicate a strong bullish trend
Daily: Bearish
Bearish pendant forming.
ADX and DI indicate a strong bearish trend
Several positive divergences
Two rejections around the $260 area, a 38% retracement, establishes support.
4H: Bearish
Bearish pendant much clearer.
ADX and DI indicate a strong bearish trend
Several negative divergences
Trend support around $263
Happy Trading!
Top 5 Weekly Trade Ideas #1 - COIN Trend BreakSimilar charts for COIN and BTC as usual. Will need to see them move in unison for confirmation. Both had an uptrend break recently and came down to support to close the week. This looks bearish to me so as long as BTC falls below $93k and COIN falls below $270ish I'll be looking for shorts targeting $85k on BTC and the gap fill around $197 for COIN.
Bias will be opposite if the reverse happens, targeting the trendlines above.
The Crypto Space - Clarity Through COINNASDAQ:COIN has had a phenomenal run since the beginning of 2023, currently up about 1,100% within 2 years!
In this Elliott Wave Analysis, I present my view of where I think Coinbase will stall and fall.
So far the sequence is filling up nicely and has presented, those with a keen eye, several opportunities to join the 11x party :)
As per this 2 day chart, I believe we are quite close to completing w3 of w(5) . In terms of EW, the chart is very clean and has been bouncing off Fibonacci support and resistance, for each wave degree, with relative precision.
I would like to see price tag $353 - $375 then drop to $300 - $271 , before proceeding to a new high between $416 - $457 to complete a full five wave sequence from the 2023 lows.
The sell off, thereafter, should be significant and if the space survives will present another opportunity for similar or greater returns during the next cycle.
This should also coincide with a cyclical top across the cryptoverse.
What are your thoughts?
COIN NEOWAVE ANALYSIS (DAILY)Experimental analysis with the intention to follow back later on as I am still learning
After posting the weekly chart, I decided to take a look at the daily chart to see if I could spot any clues,
Initially, it looked like an expanding triangle, but after reviewing it thoroughly, it did not meet the requirements.
The only other formation that could fit this structure is a terminal impulse.
In this scenario, Wave 3 is the extended wave, doubling the size of Wave 1.
Typically, when Wave 3 is extended, Wave 5 tends to equal the length of Wave 1. If not, then Wave 1 will usually be either 61.8% or 161.8% of Wave 5.
With this in mind, I would anticipate a minimum 20% upside, a 35% medium target, and a maximum target around 65%.
Obviously, we can only get a real target once wave 4 is over.
I do expect this terminal pattern to be part of a complex correction featuring an X wave, or to be the first leg of a larger corrective structure.
If you read my weekly analysis, you will understand that this complex correction will end wave G, which would end the B wave. This daily chart hints at a stronger B wave, which would put COIN in a bullish long-term trend.
Note: Since this is a daily chart, the probabilities of failure are even.
COIN 260 - 273 AFTER EARNINGS ?Why Coinbase Could Soar to $260 Post-Earnings
Coinbase, the renowned cryptocurrency exchange platform, has been making headlines with its impressive financial performance. As we approach the next earnings release, there’s a palpable buzz around the possibility of the stock price hitting the $260 mark. Here are some compelling reasons why this could become a reality:
Strong Earnings Report: Coinbase recently reported earnings per share (EPS) of $1.04 for the quarter, significantly surpassing analysts’ consensus estimates1. This positive surprise is a testament to the company’s robust revenue generation and cost management strategies.
Revenue Growth: The company’s net revenue reached $905 million in the fourth quarter, marking a 45.2% increase from the previous quarter2. This surge in revenue reflects Coinbase’s ability to attract and retain a substantial user base, despite the volatile nature of the cryptocurrency market.
Profitability: For the first time since the fourth quarter of 2021, Coinbase reported a net income of $273 million2. This return to profitability could be a strong indicator of the company’s financial health and operational efficiency.
Market Position: With a mission to increase economic freedom worldwide, Coinbase has established itself as a leading platform in the crypto economy3. Its comprehensive suite of services, including trading, staking, and safekeeping, positions it well to capitalize on the growing interest in cryptocurrencies.
Analyst Optimism: Some analysts have set high price targets for Coinbase, with predictions reaching as high as $2764. This optimism is fueled by the company’s consistent performance and the expanding adoption of crypto assets.
Technological Edge: Coinbase is not just a marketplace for crypto transactions; it’s also a technology provider that enables developers to create innovative crypto products3. This dual role could be a key driver in the company’s future growth and stock price appreciation.
Macro Factors: The broader financial market’s sentiment towards cryptocurrencies and blockchain technology can significantly impact Coinbase’s stock. Positive developments in the crypto space often translate into increased trading volumes and higher revenues for exchanges like Coinbase.
Cup & Handle Pattern TutorialA cup and handle pattern is a bullish continuation pattern that signals a potential upward price movement after a consolidation period. Here's a breakdown of its key components:
Cup: The pattern starts with a downward move in price, forming a rounded bottom (the "cup"). The price then rallies back up to the level where it began, creating a U-shape.
Handle: After the cup forms, the price pulls back downward in a smaller, rounded formation (the "handle"). This handle is typically a consolidation period before the price resumes its upward trend.
Win Rate
The cup and handle pattern is known for its high reliability and success rate. Research shows that it has a 95% success rate in bull markets and an average profit of around 54%. However, it's important to follow strict trading rules to achieve these results
COIN NEOWAVE ANALYSIS Experimental analysis with the intention to follow back later on as I am still learning
A very interesting chart to look at simply because of its popularity and future growth prospects.
What stuns me the most is its drop from $130 to $40, a decline of 70% in a matter of 8 days, which is insane.
Anyhow, that drop tells me that we are most likely in a larger downtrend, and things might not look good for Coinbase in the long term.
Currently, we have finished wave A and are in wave B of a flat.
The only thing left is the completion of wave G, which should signal the move down to complete wave C.
This G wave will be a big decider in where Coinbase is headed since wave G is likely to be the same in price as wave A. If not, it might be related by 61.8% or 161.8%.
A move at 161.8% would signal a strong B wave and also lower the chances of potentially retracing wave B completely.
Important note: if we break the current high, we are likely headed for the 161.8%. However, if we keep edging downwards, this means that the top is already in.
Coin Daily Chart $COIN Bull Flag🚩 **Coinbase ( NASDAQ:COIN ) Daily Chart – Bull Flag Formation!** 🚩
Coinbase is printing a classic bull flag on the daily chart, hinting at potential continuation to the upside. Traders are watching for a breakout above the flag's resistance to confirm the move. Momentum could accelerate quickly! 📈
#SPX500 AMEX:SPY NASDAQ:QQQ #BITCOIN #CRYPTO
Coinbase: ResistanceSo far, Coinbase was unable to decisively break above the resistance at $341.50. Our primary expectation is that the stock should soon make a significant move above this level, as we anticipate the peak of the ongoing wave in magenta well above it. However, our 33% likely alternative scenario suggests that the stock may have just completed the high of the corrective wave alt.(b) in blue. In this case, it would be moving toward the conclusion of the magenta wave alt. between the supports at $160 and $70.76.
COIN UpdateStill tracking this wave 4 correction as part of wave 3 of the expected final move up for COIN. I am following a leading ABC structure and anticipating a little more downside before it is complete. My target is $287.60 but it could go significantly lower or be complete already. Next target once this correction is done is the ATH
$COIN Coinbase fakeout and pump?Can't even explain why but I feel like something similar might happen. Looks a bit dumpy tho.
I wouldn't enter short. Just wait for this fakeout, might be local bottom. and Pump that would take CRYPTOCAP:BTC back up and further push down CRYPTOCAP:USDT.D
Might not even reach the entry price for long. ~295$