COIN trade ideas
COIN: Wyckoff Reaccumulation or DistributionCOIN has consolidated for several weeks and I originally believed that a distribution pattern was forming. However, recent structure has caused me to doubt my initial analysis.
With a distribution pattern, an uptrend ends and a channel is formed. The upper zone is between 80 and 85 while the lower is between 50-55. It is then followed by weeks of consolidation so big money can scale out of their positions. The schematic does not always line up perfectly but it provides a nice template. However...
Several breaks below the trading range beyond phase B is not a distribution characteristic. It is a characteristic of an accumulation. It seems we've experienced two shakeouts and now we have this monster run with very shallow pullbacks. In both scenarios, this run-up should break above the high of the trading range and then consolidate. My question is will the consolidation lead to higher prices or lower prices?
Looks like a good investment, ("Looks like")Price looks like it has been rejected off a good support area and has broken a trendline (which ONLY touched 2 point).
I'll come back in a few months time to see if my analysis is right or wrong.
What do you people think about my overly simple analysis which does not look at any fundamentals?
Netral on Coinbase and Crypto for a whileVolatility will remain high for COIN stock, so its options are playable.
For long term bagholders, have money ready and deploy it sub $45 a share
Add some underlying Privacy Asset: Zcash (ZEC) to your portfolio under $50 and play it up to $500 in 2024-2025
Crypto is the future, so are crypto scams, exchange insolvencies, thefts, lost private keys, and pump and dumps. Use Caution and Dilligence.
Local Coinbase support should be around 35-38 and upper resistance around 84-88 bucks
Coin to 44 maybe 38Okay congrats, this is the one wave I didn't ride up, and I am slightly tilted because i saw it coming at 50 bucks in one of my prior posts.
that being said, this is peak euphoria, and if its turning back, now is the literal final reversal point.
if we break through here, then its straight up headed for 200+
I don't think were going for a 200+ yet, so I have to draw the conclusion were going to FINALLY have a backrest of the spring.
The news cycle was absolutely awful at the bottom, and it will be absolutely amazing at the top.
every major asset manager in the world choosing coinbase as partner for etf seems like peak news. SEC still views coinbase as an illegal bucket shop. I am VERY skeptical that any of these ETF will pass. and if not, then watch out below.
I am under the impression there will be years, or at best months more of consolidation due to legal problems, which i do think coin has a good chance of winning.
COINBASE: Will it finally cross over this potential Triple Top?Coinbase reached the top of the annual Channel Down pattern with the 1D technicals turning overbought (RSI = 75.832, MACD = 4.640, ADX = 42.237). For the RSI in particular, the last time it was higher was on February 2nd. This calls for a short term correction to at least the 1D MA200 (TP = 60.00). Even in the event of a crossing over the Channel Down, the price will still have to face the potential Triple Top of Resistance Zone 1. We will go long only after the price breaks above it and target the R2 (TP = 116.00). It has to be said that the RSI breaking above the 5 month LH trendline, is an early indication of the long term trend.
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Coinbase (COIN) on Upward Trend and Heading to 2023 ATH (Long) Recent ETF filings have placed Coinbase alongside serious financial players such as Blackrock. BlackRock has announced its plans to conclude a monitoring agreement with Coinbase , thereby addressing a key concern previously voiced by the SEC in its rejection of Bitcoin spot ETF applications.
The fact that the SEC action is not scaring investors away, is a bullish sign in itself. However, as more and more traditional financial institutions name Coinbase as Surveillance Partner in Bitcoin ETF filings, the more the price of NASDAQ:COIN will keep rising.
In addition to the above, any upward movement of Bitcoin and crypto, in general, is set to benefit Coinbase with additional revenue, partnerships and extra value created for customers and investors.
NASDAQ:COIN is up 11% today, 25% this week and 119% up year to date, despite the SEC issues and the crypto downturn. Many things are pointing towards the direction that Coinbase is here to stay, that it will survive the regulatory onslaught and will come out even stronger.
A long here is a safe bet imo.
It doesn't take an Einstein to see what's about to happen......The thing I love about trading view is nobody really knows what's going to happen...
But if you look at this chart with the eyes of a child, you may get a glimpse.
Short term TA is gambling, just a lot of desperate and greedy people looking for hope crumbs to a trail that generally isn't there.
My thesis over the last 3 years on this stock has remained unchanged as all the dominoes have fallen to clear the path for the next cycle for this surviving exchange.
Don't you think it's interesting that only coin base has survived?
Most people have no idea what is about to happen with this stock...
Sometimes TA is not enough...
All you need to know without me saying too much, is this is a no brainer...
When you make a lot of money in cryptocurrency and you want somewhere safe to put it......
Somewhere that has relative gains to Bitcoin., But without the wild west wacky nature of crypto at the moment..
Where will you go?
I am surprised a lot of people have not seen this...
Its about to happen, , as I have been watching from the beginning...
I see the sentiment..
But I also understand a lot of people are not in this situation yet....
Coin base in my understanding is a great secure hold for large capital with minimal risk.
It's not Short term traders its for people that have a deep al.ost intuitive belief , That simply cannot be explained in laymen terms.
Meow
I've been patient how about you?
Let's see what happens.....
COIN - Falling Trend Channel [Mid-TERM]
🔹Broken an inverse head and shoulders formation.
🔹Between support 63 and resistance 85.
🔹Break signals rising trend with increasing volume.
🔹Technically POSITIVE for the medium long term.
Chart Pattern;
🔹DT - Double Top | BEARISH | 🔴
🔹DB - Double Bottom | BULLISH | 🟢
🔹HNS - Head & Shoulder | BEARISH | 🔴
🔹REC - Rectangle | 🔵
🔹iHNS - inverse head & Shoulder | BULLISH | 🟢
Verify it first and believe later.
WavePoint ❤️
COIN - Long📈 STOCK ANALYSIS: NASDAQ:COIN
Technical Analysis:
NASDAQ:COIN is currently trading at $64.10, with a wide shuffle between the price range of $47 and $83.
Recent reports suggest a collection of goods in multiple centers, indicating a potential uptrend.
The stock's moving averages, such as the 200-day moving average, have crossed, indicating a positive trend.
The short to medium term diagonal trend line is also showing a positive crossing.
The goal is to join the collection of goods, although it might be considered slightly late.
If the stock surpasses $66.16, there might be an opportunity to increase the position.
The yellow horizontal lines on the graph represent potential price targets.
The high cutoff limit of the shuffle indicates a distant target around $84, where an exit or further increase can be considered based on momentum conditions.
It is important to set a stop below $55 to limit potential losses.
Please note that this analysis is for informational purposes only and does not constitute a recommendation.
🙊🍒 #StockAnalysis #COIN #InvestingTips