COIN - Next moveAfter predicting the last top for coinbase around $80 then projecting the retracement would lead us to around $52 (0.618) within $1 of actual. We can now make a new projection for coinbase's price. After the temporary bottom around $52 we pushed back up to retest our 0.236 (red arrow/circle) as new resistance. This is in accordance to BTC retesting the $25,300 level and double topping. After testing our 0.236, coinbase immediately pushed back down to the 0.382.
Since Coinbase is following btc so closely we can project the 2 scenarios. The more likely one should be down. This would be in accordance to my previous post about BTC and btc breaching $20k again. This would theoretically put coinbase back around $40 which is close to our 0.786 of our trend and our 1.618 ($41) of our micro trend.
If BTC reverses trend and closes candles above $25,400, the Coinbase should start closing above our 0.236 which would give us the indication we are about to break our micro high around $89. If this move occurred then BTC should be back in the $28-30k zone and COIN should be in the $120ish range.
COIN trade ideas
COIN: Cup and Handle watch for breakoutCOIN :Cup and Handle watch for breakout on 65m. Continued strength in sector in tandem with macro policies. Volume will be needed to confirm continuation on upside and acceptance at higher price shelf// KL: >70.47: 72.06, 73.25, 75.95, 83.02// <70.47: 68.80, 65.70 <63.00 invalidates this pattern // ATR: 6.80, Vol: 12.27%// Bias: Neutral-Risk on for intraday/short term; Risk on for long term//PT 83.02 on 65m// Price at time of publish: 70.88
💾 Coinbase | Looking At The Current Correction, Is It Over?Coinbase (COIN) remains really strong but the correction is significant, a 39% drop in 10 days.
The drop stopped right above EMA50 also matching the 0.618 Fib. retracement (golden ratio) level of the bullish wave that lasted exactly one month from 6-Jan. to 6-Feb.
If the market is set to move higher as we strongly believe will happen, this should be the end of the correction.
Not just the size but also the speed, fast drop, matches perfectly the type of market action we are having.
After a strong bullish wave that is set to continue, this is the exact type of correction that one would expect.
We have confirmation from other charts... TSLA just published.
Expect 168 next and 52 as the main strong support if the bulls fail.
Prepare for the worst, hope for the best.
Namaste.
Anyone Can Play GuitarDestiny
Destiny, protect me from the world
Destiny
Hold my hand, protect me from the world
Here we are with our running and confusion
And I don't see no confusion anywhere
And if the world does turn, and if London burns
I'll be standing on the beach with my guitar
I want to be in a band when I get to heaven
Anyone can play guitar and they won't be a nothing anymore
Grow, my hair
Grow, my hair, I am Jim Morrison
Grow, my hair
I wanna be, wanna be, wanna be Jim Morrison
Here we are with our running and confusion
And I don't see no confusion anywhere
And if the world does turn and if London burns
I'll be standing on the beach with my guitar
I want to be in a band when I get to heaven
And anyone can play guitar and they won't be a nothing anymore
--------------------
post-layoff value buy with macro crypto reversal
COIN 21023In a range, top to bottom is likely. Unsure if that even holds longer term. On the monthly it still remains in a lower high and lower low.
I do not have a bullish argument as of now. I do not understand why anyone would want to own Coinbase stock but mayve I'm missing something. Just buy Bitcoin, Ether, Matic, or something else entirely like LMT growth stock
I'd like to see the trend reverse for any long term hold buys which all of my stonks are
#coinbase a little to much, a little too fast I think the chart speaks for itself, but this looks like a short squeeze and a bit of an exhaustion (shorts taken to the cleaners).
If the history of this chart is anything to go by, i would expect a reversion to the mean so i'll be looking to short this 80 level for a pullback into the mid 60's
COIN price is liely headed to weekly resistanceThe price will attempt the weekly resistance zone in coming days. I think there will be a pullback on this test and price will fall back to the weekly support marked in green. However, hitting that support will be a bounce which will pave the way to break the weekly resistance.
However, lets stick to the first step of price reaching the weekly resistance. We will update our idea once the price reaches that level and let us observe the price action there.
Has Coinbase topped out?Today something very interesting has started forming on the Coinbase chart. We have created a double top on our 4H RSI as well as created a higher high in price. This means a bearish divergence has formed that could send price back down. This also coincides with BTC being at a critical zone. It is possible BTC has also topped out short term around $24,300 or could have one more rally to the $24,800-25,400 region before topping out. Coinbase should follow suit to whatever BTC decides to do here.
If we do get a drop what should we expect?
We would want to turn old resistance into new support. This would be most powerful if we retested our downwards sloping trendline. We clearly see the moment price broke this trendline (labeled "breakout") and depending on how long it would take us to retest this level it would bring us to the 0.618 (~$52) or 0.786 (~$43).
CoinRallyed very hard. I got in at 50.22 area and rode it to 55.60. I sold it out, it came back to 49/50 area and ripped to 60$ I missed that as I was focused on everything else rippin. Now that coin has reached an area for me of concern I’m not to worried I belive we will have more buying in time.
We are starting to reach some previous considlation zones of potential stronf reostance ranging from 63-67$
Now as we test this upper reostance zone I would
Be getting more catious and looking for our next dip buys.
Coin struggled at 55.60 for sometime so that could
Be a great support buy area.
That seems to be the most logical place for us to look at until broken. If that does break, the 50$ support is key key level to bid at but I’m not to confident it’ll get that low unless Btc rolls over hard.
On key thing we can do, is try to run fib retracments from this recent high to the low
You can also start the fib from the 78.19 high to the lowest price we just made. The fibs line up pretty closely so both way will work within 50 cents or so
The .5fib comes in at 55.13 which is where I would be a dip buyer potentially and the .618 is 49.60$ which is a key support buy to grab coin from
It is good to state, that running a fib from the 78.19 high the target on coin around 67$ which lines up with my analysis range of reostance from 63-67$ so keep this in mind for upside targets
Personally I’m looking for coin to find reostance here an reject back to 55$