TradingView Post: Coinbase Climbs as Bitcoin Hits New High
With Bitcoin breaking to all-time highs this week, the spotlight is shining the world’s largest cryptocurrency platform: Coinbase.
Bitcoin's Surge Propels Coinbase Despite Platform Hiccups
In the midst of Bitcoin's impressive third bull run, cryptocurrency trading platform Coinbase is experiencing both highs and challenges.
Bitcoin's ascent to over $1 trillion in market cap has boosted Coinbase's standing, with the platform witnessing increased user activity – propelling the shares higher.
However, the surge in demand has also led to disruptions, including displays showing zero balances for some users. Coinbase's ability to navigate and swiftly address these challenges will be crucial in maintaining its position as a leading player in the dynamic cryptocurrency market.
Coinbase: Key Levels to Keep an Eye On
Daily Candle Chart Analysis:
Coinbase’s recent rally has seen the shares surge past the December highs – forming a series of steepening trendlines in the process.
The shares have just completed an ABCD harmonic move – where the magnitude of the recent rally is equidistant to the Nov-Dec rally.
Key levels to watch on the daily candle chart include the two ascending trendlines and the broken resistance / turned new support area created by the broken December highs.
COIN Daily Candle Chart
Past performance is not a reliable indicator of future results
Weekly Candle Chart Analysis:
Elevating our perspective to a weekly timeframe unveils a broader picture of Coinbase's performance.
The recent rally has successfully breached a significant resistance level created by a cluster of swing lows in May 2021, providing ample headroom until the November 2021 swing highs.
COIN Weekly Candle Chart
Past performance is not a reliable indicator of future results
Disclaimer: This is for information and learning purposes only. The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance. Social media channels are not relevant for UK residents.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.01% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
Bitcoin's Surge Propels Coinbase Despite Platform Hiccups
In the midst of Bitcoin's impressive third bull run, cryptocurrency trading platform Coinbase is experiencing both highs and challenges.
Bitcoin's ascent to over $1 trillion in market cap has boosted Coinbase's standing, with the platform witnessing increased user activity – propelling the shares higher.
However, the surge in demand has also led to disruptions, including displays showing zero balances for some users. Coinbase's ability to navigate and swiftly address these challenges will be crucial in maintaining its position as a leading player in the dynamic cryptocurrency market.
Coinbase: Key Levels to Keep an Eye On
Daily Candle Chart Analysis:
Coinbase’s recent rally has seen the shares surge past the December highs – forming a series of steepening trendlines in the process.
The shares have just completed an ABCD harmonic move – where the magnitude of the recent rally is equidistant to the Nov-Dec rally.
Key levels to watch on the daily candle chart include the two ascending trendlines and the broken resistance / turned new support area created by the broken December highs.
COIN Daily Candle Chart
Past performance is not a reliable indicator of future results
Weekly Candle Chart Analysis:
Elevating our perspective to a weekly timeframe unveils a broader picture of Coinbase's performance.
The recent rally has successfully breached a significant resistance level created by a cluster of swing lows in May 2021, providing ample headroom until the November 2021 swing highs.
COIN Weekly Candle Chart
Past performance is not a reliable indicator of future results
Disclaimer: This is for information and learning purposes only. The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance. Social media channels are not relevant for UK residents.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.01% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.