COINBASE PIVOT LOWS AND HIGHS STRATEGYDOUBLE TOP
HEAD AND SHOULDERS
RAYS for guidance
Whales have confirmed COINBASE to reach $256.65
MA CUSTOM SETUP WITHIN THE PIVOT STRATEGY
COIN trade ideas
COIN: Basing for a Potential SurgeThe monthly downtrend is active, but we’re currently sitting at a strong support level, close to the first target of this down move.
I’m expecting a base to form here before we see a weekly bullish trend toward the breakdown area of the monthly trend. Once the price reclaims the monthly mode, things should pick up significantly.
January looks like it could be a great start for more movement. NASDAQ:COIN
Coinbase at a Crossroads: Rally to $340 or Drop to $100?**NASDAQ: COIN (COINBASE) 1W/1D**
On the **Weekly timeframe**, :
In my previous analyses ( ) the Golden Cross on the daily moving average was noted, indicating bullish momentum at the time. The price was in a Rising Wedge formation, a pattern often signaling an upcoming downward move, especially in the context of an Elliott Wave count where we were in Wave 3. This strong upward movement at the time allowed for further rises, but also warned of a possible correction in the form of Wave 4.
Now, a few months later, after reviewing the chart, I have slightly extended Wave 3, in which this impulsive wave also displays a clean 1-2-3-4-5 pattern. The previously mentioned correction has been in play. The price is currently at the support line of the earlier Rising Wedge. The question now is whether Coinbase can bounce back again or whether further decline towards the underlying #fibonacci levels will follow.
**On the Daily timeframe**, :
We can see that the downward correction, which began in July 2024, has reached a bottom around $146, fitting within the larger correction from the weekly analysis. The price now appears to be recovering slightly towards the #ema 50 at $187.67, which is a resistance level. The momentum is supported by a strong #stoch, but it is currently in the overbought zone, indicating a potential cooling off. Key levels to watch are the #fair-value-gap around $187 and $216. If the price breaks through these resistance levels, it could lead to further upward movement towards $240, ultimately completing Wave 5 towards $340. However, if momentum decreases, a fallback towards the previous bottom at $146 or the psychological $100 remains possible.
**Conclusion:**
Although there is room for further rises towards $240 and eventually $340, signals such as the overbought #stoch and proximity to resistance levels also point to a potential cooling off. If momentum decreases, the price could retreat to previous lows around $146 or even towards the psychological level of $100.
**Resistance levels:**
- $187 (#ema 50)
- $216 (#fair-value-gap)
- $240 (resistance line from the rising wedge formation)
- $340 (Wave 5 target)
**Support levels:**
- $146 (previous bottom)
- $100 (psychological level)
*Disclaimer: This is not financial advice. Always do your own research and carefully assess your risks.*
COIN - Can Coinbase follow BTC? $265 on the tableGreetings friends!
Hope you're having a fantastic day. I want to give COIN a little love. We've been talking about important moving averages with BTC which are the 50/100/200 Day Simple Moving Averages (SMA). BTC was able to get above them, but COIN has not (yet?). BTC was also able to take out the prior significant bearish pivot (for COIN, that would be on 8/23).
If we can do all that work, meaning market movers get us above all these moving averages (circled), we can see a move up to $265 which I think would be the next short term target for COIN - likely sometime in October or November. There's a LOT of work that needs to be done, though. There's a lot of risk here on COIN, but a decent reward if BTC can do some moves over the weekend when liquidity is lower.
There's downside risk, but you can easily manage your risk at around $162. If you decide you want to use options, I'd get some time and don't try and get too far OTM. You can find yourself up a creek without a paddle if you're gambling with something that I'm saying will take time to happen. Equity is best and there's other ETF instruments that you can utilize before you go down the options route. Even there, I'd suggest call debit spreads vs naked calls as the premium will probably be pricey.
Not any kind of trading advice, but just things to think about before you decide you want to take a trade on COIN. Also - Remember one more thing - COIN is up 29% from the Sep 6 lows. That's quite a bit - so don't go chasing waterfalls. Always wait for pullbacks if there's significant upside that has already been realized.
COINActivated some NASDAQ:COIN 200 calls for later October, chasing brypto strength
Think 618 of 2024 range holds as bottom, having deviated below early September and now reclaimed as support
Yearly POC logical take profit area...
Opening (IRA): COIN Nov 15th 145 Covered Call... for a 135.40 debit.
Comments: High IV (67.3%). Selling the -75 delta call against long stock to emulate the delta metrics of a 25 delta short put, but with built-in short call defense.
Earnings are slated to be announced on 11/7, so will look to be out of the trade by then.
Metrics:
Buying Power Effect/Break Even: 135.40
Max Profit: 9.60 ($960)
ROC at Max: 7.09%
50% Max: 4.80
ROC at 50% Max: 3.55%
Will generally look to take profit at 50% max; roll out short call on side test.
Coin breaking resistance? BTC to followCoin I have been following closely and selling CONL puts. These have been absolutely printing me money the past few days. I expect this to be a break here of the medium term resistance. Coin generally leads BTC price action, BTC will likely have a bullish weekend and Monday to follow. I expect 201$ on Coin in short order. The weekly stochastic RSI is just starting to point upward, we have a lot of legroom here.
Bear Flag On The 1D ChartClear as day bear flag on the 1D chart. Next point of resistance? The $120 zone based on the previous TD9 mark. Not too many technical indicators required to see this one. I'm hedging my bets on us seeing one more dump before we see a bounce of any sort. That next bounce hopefully being a complete breakout to the upside. We're slowly inching towards the point of confluence which seems to be centered around the next earnings report at the end of October. Good luck everyone.
Coinbase: Not Yet!Although Coinbase has moved upward within our orange Target Zone (between $180.58 and $134.06), we must still reckon with a lower low of the orange wave ii as the stock can use the whole range of our Zone to complete the current movement. However, since the technical requirements for this corrective move have already been met, the price could also continue to rise directly. In any case, the orange wave iii should surpass the resistance at $323.70, so our Zone still offers long entry opportunities to profit from the expected increases. For hedging purposes, a stop may be placed 1% below the Zone’s lower edge.
Top 5 Weekly Trade Ideas #3 - BTC/COIN ShortCOIN is forming another ascending channel/bear flag, much like the one from August. I'll be looking to short COIN if it breaks below with a target of the gap fill around 148.05 and then prior support around 115. For extra confirmation, it would be nice to see BTC break its ascending channel to the downside as well.
BTC also just rejected off supply and has an ascending channel of its own. These two tickers should confirm each other. First target for BTC is 57.7k and then 52k-48k.
Coffee Is A Brewing!!!Cup and Handle Formed, from my perspective...
I wrote out my view of the Sloping Resistance and my thought of the Sloping Support...
This is the range it will most likely bounce from (Support) and reject at (Resistanct)...
As you can see, support has been reached and the expected bounce is in play...
Look at previous run ups, usually the run up happens within 30-60 days and by large margins...
Fav Option 225C option expiring 11/1, which happens to be the day after earnings...
This is definitely on my Fli CIty Options Watchlist.
What are Volume Candles and how to use themVolume Candles are a great chart type you can use to integrate volume analysis into your trading. TradingView is a superb platform that offers this chart type in real-time, so you can immediately get a completely different feel of what the market is actually doing.
As an experienced trader, understanding volume candles is crucial in getting a deeper insight into market dynamics. Unlike standard candlestick charts, which focus primarily on price movement, volume candles combine price action with the strength of trading activity (volume). This offers a unique perspective that can give you an edge in reading market sentiment and momentum.
What Are Volume Candles?
Volume candles are modified candlestick charts where the width of the candle is proportional to the trading volume during the corresponding time period. The typical candlestick elements—open, high, low, and close prices—are still present, but the volume aspect adds an additional layer of information, enhancing the clarity of price action.
Key Features of Volume Candles:
Height: Represents price movement (just like in regular candlesticks).
Width: Indicates the volume of trades within that period.
Unique Information You Can Extract from Volume Candles:
1. Volume-Driven Price Action Volume candles show how much trading interest exists at various price levels. When you observe a large volume candle, it tells you that a lot of market participants were active at that price. Conversely, a thin candle signals lower activity. This helps you:
A. Identify levels where strong participation occurs (institutional players what I call the puppet master).
B. Spot consolidation zones where volume is low, which often precedes significant price moves.
2. Momentum Confirmation High-volume candles that align with price trends suggest strong momentum.
Wide Bullish Candles: If you see a wide up candle during an uptrend, it indicates that the buying pressure is backed by solid volume. This gives more credibility to the uptrend and hints at a continued move upward.
Wide Bearish Candles: Similarly, a wide down candle during a downtrend signals strong selling pressure.
Volume Candle Chart can also be used for day trading purposes where you need to act FAST.
This TradingView chart type is extremely good so you don't need to compare the traditional volume bars on the bottom of the chart.
IMPORTANT: You must understand the puppet master mentality, which gives you context.
*** EXTRA: You can use this theme color.
COIN Back to Back Bear FlagsCOIN recently had a bear flag break and just formed another one. It's sitting at the bottom end now and also at horizontal support. It could see a big flush here if BTC tanks with metals. Still need to let the FOMC reaction play out, but so far it seems to me that metals and tech are reacting negatively.
COIN Bear FlagCOIN saw some relief after the recent BTC sell off, but is still very weak. A lot can change after FOMC, but for now I'd say it looks rough. It just had a bear flag break you can see previously and is setting up for another.
We also have the BTC bear flag I posted about earlier in the week. BTC had a fakeout below, but has broken back below again. If we see COIN and BTC have these bear flag breaks at the same time I'd wanna be looking for shorts. In addition, we have the $162 area on COIN that could act as horizontal support. If the bear flag and horizontal support break, look out below. Any holds of this are could reset in a nice recovery, but for now technicals say down. Final flag pole target is down around $93.20. I'd probably just exit if and when BTC hits $50k.
$COIN PUT OPTION 5/31 - 6/07Quick trade idea here. Price volatility is +/- $50 per month for COIN. So, 5/31 -6/07 is an adequate time frame for COIN price to enter our exit zone of the white box.
Red box is distrubition, green accumulation, exit white box. Simple, happy trading.
Crypto Bulls BackThe stock has completed 5 subwaves of the C-leg and is set to rally to complete the 5th wave of the 5 wave impulse.
Opening (IRA): COIN Oct 18th 130/140/200/210 Iron Condor... for a 3.66 credit.
Comments: High IV at 73.4%. More small stuff while I twiddle my thumbs. Skewing this just a smidge long, with resulting delta at 2.35.
Metrics:
Buying Power Effect/Max Loss: 6.34
Max Profit: 3.66
ROC at Max: 57.72%
50% Max: 1.83
ROC at 50% Max: 28.86%
Will generally look to take profit at 50% max; roll in untested side on side test.
COIN bounce to $187Similar pattern as previous years. This huge drop in all the tech stocks will uptrend in Q4 after the previous drop.
12 Wins in 13: Mastering the Weekly Breakout Strategy⚡ 12 wins in 13 trades on the weekly chart! That's right, I'm talking about a strategy that exploits the breakout of the previous weekly candle's extremes with impressive precision.
The logic is simple but powerful: I identify the trend direction with an objective approach, enter the trade after the breakout in favor of the trend, and aim for a 1% price move . The stop loss? Always set at the high of the previous candle.
Right now, I see this opportunity on the weekly chart of $NASDAQ:COIN. I will buy a PUT option as soon as the low of 146.11 is broken, with a target at 144.66 and a stop at 182.70 (the high of the previous candle). Once the low is broken, the trade will be triggered, following the successful pattern: 12 out of 13 trades have hit the target so far.
Have you tried applying such an effective strategy on the weekly chart? Share your thoughts , and let's exchange ideas!
Disclaimer: This is my objective approach to identifying trends using candlesticks, and this is not a trade recommendation . High-probability setups usually have lower payoffs , so risk management is essential . I recommend always running a backtest of the strategy to ensure it generates a positive expectancy, even with a lower payoff. Do your own research , and before replicating any idea, understand the principles and ensure it is replicable. Without replicability, a strategy cannot be properly studied or effectively used.
My levels to manage risks to bottom fishing $COINCoinbase's competitors:
1. Robinhood (HOOD)
2. Cash App (SQ)
3. Venmo (PYPL)
Barclays bank revised its stance on Coinbase on Friday, shifting its price target down to $169 from $206 but upgrading the company to “Equal Weight” from “Underweight.”.
COINBASE at the bottom of the 20month Channel. Will it go lower?Coinbase (COIN) has been trading within a long-term Channel Up since the first week of January 2023 (almost 20 months). Within this time span, it has seen 4 corrections with the latter being the longest as we haven't seen a new High since the week of March 25 2024.
Last Friday saw the week close on the strongest red 1W candle (-20%) since the 2022 Bear Cycle, as it failed to rebound on the 1W MA50 (blue trend-line). This on its own is a very pessimistic development, with the presence of only the 1W MA100 (green trend-line) remaining to offer support long-term.
However, this Friday closing made an exact Higher Low at the bottom of the Channel Up, something we hadn't seen since the June 05 2023 1W candle. That was the candle that completed the longest (until the current one) correction on Coinbase. Both Bearish Legs have similar declines (-47% then and -48% now). The minimum % rise of a Bullish Leg within this Channel Up has been +146.82% (two times).
As a result, as long as we close this week inside the Channel Up and ideally the 1W RSI remains above the 30.00 oversold barrier, we can expect a long-term bullish reversal on COIN with the start of the Channel's new Bullish Leg, with a minimum expectation being at $360.00 (+146.82% rally).
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Coinbase UpdateI wasn't going to post on Coinbase publicly for a while, but I wanted to give the haters something to agonize over. I remember when some were saying my Coinbase posts were way off and that price wasn't going to drop this low again. Welp, here we are, right in the area I called for. Still doubt EWT? If you do, this post isn;t for you and you should go elsewhere for an analysis over Coinbase as EWT is ALL I use.
Looking at the chart below, we have a 5-wave pattern that could be considered complete. However, I don't like how the mini-wave 4 shaped up. I expected it to be deep and long, not short and shallow. This makes me wonder if it is yet another a wave of C of (C). We have come very close to my target of $143-$140 though. Price hit a low of $146.12 before starting to move higher again. Not to mention the place in which BTC is in in its respective pattern. We have created positive divergence as of now as expected. Will it hold? We will find out soon enough. Those of you that get daily updates from me know that I have started to slowly build into a position, but only have 20 shares as of now. There is a small possibility that price drops all the way to the $125 area but as of now that is low probability. Nonetheless it is a probability that traders need to be aware of. If we can make another low as expected I plan on adding more shares to my portfolio.
Coinbase - ready for some pain?It’s make or break for Coinbase. $146 remains very important support. If we lose it then i expect we drop quickly to $126. Lose that, then we are in a whole world of pain.
I have a bearish bias on Coinbase right now. We are breaking out of an ascending wedge pattern and support was lost at the 0.75 Fibonacci Speed Fan. This was confirmed on Friday’s close. It could be a trap and we pop from here but probability suggests a drop. So I expect this to occur in the coming week or two.
If we get a bounce at $146 the trade idea is invalidated. Do you own research, not financial advice.
