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Navigating Sympathy Plays: A Guide to Trading BITCOIN & COINBASE** Introduction ** Sympathy trading, a strategic approach rooted in both technical and fundamental analysis, capitalizes on correlated movements between assets to uncover profitable opportunities. In this article, we delve into the nuanced realm of sympathy trading using Bitcoin (BTCUSD) and Coinbase Global Inc. (COIN) as case studies, exploring how a blend of technical and fundamental analysis can enhance trading strategies. ** Understanding Sympathy Trading ** Sympathy trading hinges on discerning and exploiting the symbiotic relationship between correlated assets. It involves analyzing both technical indicators and fundamental factors to identify potential entry and exit points, as well as underlying drivers influencing price movements. ** BTCUSD and COIN: A Sympathetic Relationship ** BTCUSD and COIN exemplify a compelling case study in sympathy trading within the cryptocurrency domain. Bitcoin's price dynamics often exert a significant influence on Coinbase's stock value, reflecting the exchange's dependency on Bitcoin's performance and trading volumes. Technical Analysis Insights: Technical analysis provides crucial insights into price trends, momentum, and support/resistance levels. Key technical indicators for trading BTCUSD and COIN include: 1.Moving Averages: Analyzing moving average crossovers and trends helps identify potential entry or exit points. Golden crosses (short-term moving average crossing above long-term moving average) or death crosses (opposite) can signal trend reversals. 2.Volume Analysis:  Monitoring trading volumes in both BTCUSD and COIN can confirm price movements and signal changes in market sentiment. An increase in volume accompanying price movements suggests stronger market conviction. 3.Chart Patterns:  Identifying chart patterns such as triangles, flags, and head and shoulders formations can provide insights into potential price reversals or continuation patterns, guiding trading decisions. Fundamental Analysis Insights: Fundamental analysis delves into underlying factors driving asset valuations and market sentiment. Key fundamental factors influencing BTCUSD and COIN include: 1.Regulatory Developments:  Changes in regulatory frameworks governing cryptocurrencies can impact investor sentiment and trading activity. Positive regulatory developments may boost confidence in BTCUSD and COIN, while regulatory uncertainties could lead to volatility. 2.User Adoption and Trading Volumes:  Monitoring user adoption rates and trading volumes on Coinbase's platform can provide insights into the exchange's revenue prospects and growth trajectory. Increased user activity often correlates with higher revenues for the exchange. 3.Market Sentiment and News Catalysts:  Market sentiment surrounding Bitcoin, such as institutional adoption, macroeconomic factors, or geopolitical events, can influence both BTCUSD and COIN prices. News catalysts, such as product launches, partnerships, or earnings reports from Coinbase, can drive short-term price movements. ** Crafting Sympathy Strategies: ** Sympathy trading strategies integrating technical and fundamental analysis may involve: 1.Confirmation of Technical Signals:  Confirming technical signals with fundamental catalysts can strengthen trading convictions. For example, if a bullish technical pattern emerges in BTCUSD, traders may look for positive fundamental catalysts supporting the uptrend in COIN. 2.Event-Based Trading: Leveraging fundamental analysis to anticipate market-moving events, traders may position themselves ahead of key announcements or developments. For instance, if positive regulatory news is expected for cryptocurrencies, traders may preemptively buy COIN in anticipation of increased trading activity. ** Risk Management Considerations: ** Effective risk management is paramount in sympathy trading to mitigate potential losses: 1.Position Sizing:  Determine appropriate position sizes based on risk tolerance, account capital, and trade conviction. Avoid overexposure to a single trade and diversify across multiple assets to spread risk. 2.Stop-Loss Orders:  Implement stop-loss orders to limit potential losses and protect capital. Place stop-loss levels based on technical levels, volatility considerations, or predetermined risk-reward ratios. ** Case study in action ** Let's look at the charts, both on the 1W time-frame in order to catch and get an understanding of the bigger trends and see if the theory is applied on the price action. Bitcoin has provided 5 excellent Sympathy Play signals for Coinbase in the last 2 years. Starting with a Bear Flag that was rejected on its 1W MA50 (blue trend-line), Bitcoin initiated a huge decline on Coinbase (red shape), proportionally much stronger that its own. Then as its was attempting to find a market bottom, it provided 2 recovery signals that gave a proportionally bigger rise on Coinbase. Then a BTC Bull Flag again turned into a proportionally bigger rise on Coinbase with the last signal coming on October 2023. As you can see during this significantly sample, Bitcoin tends to provide strong early buy/ sell signals on Coinbase. It is worth noting that even though Coinbase is a stock, it follows Bitcoin's price movements more closely than the S&P500 stock index, which we have illustrated on the right chart by the grey trend-line. As you can see there have been numerous occasions where Coinbase failed to follow a big stock market rally and instead was tied to BTC with the most notable examples being recently in January 2024, March 2023 and October 2022. ** A few things to consider that distinguish Bitcoin from Coinbase: ** Market Factors:  Bitcoin's price is influenced by various market factors such as supply and demand dynamics, investor sentiment, macroeconomic trends, regulatory developments, and technological advancements. Coinbase's stock price, on the other hand, is influenced by factors specific to the company, including financial performance, earnings reports, regulatory compliance, competition, and market sentiment towards the cryptocurrency industry. Liquidity and Trading Volume:  Bitcoin, being the largest and most well-known cryptocurrency, typically exhibits higher liquidity and trading volume compared to Coinbase's stock. As a result, Bitcoin may experience more significant price movements and volatility compared to COIN, which could impact their respective charts differently. Correlation vs. Causation:  While Bitcoin's price movements may influence sentiment towards Coinbase and vice versa, correlation does not necessarily imply causation. While there may be periods where BTC and COIN prices move in tandem due to shared market sentiment or external factors, they are ultimately distinct assets with their own fundamental drivers. Market Participants:  Bitcoin is traded on cryptocurrency exchanges by a diverse range of market participants, including retail investors, institutional investors, miners, and traders. Coinbase's stock, on the other hand, is traded on traditional stock exchanges and may attract a different set of investors, including institutional investors, hedge funds, and retail traders. ** Conclusion: ** Sympathy trading using BTCUSD and COIN as case studies demonstrates the synergy between technical and fundamental analysis in identifying trading opportunities and managing risk. By integrating insights from both disciplines, traders can enhance their trading strategies, navigate market dynamics with confidence, and strive for consistent profitability in the dynamic cryptocurrency market. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Editors' picks
CRYPTO:BTCUSDEducation
by TradingShot
5
📈Bitcoin price movement near 40K level📉BINANCE:BTCUSDT COINBASE:BTCUSD Hello dear traders. After receiving support around the level of 38-39 thousand dollars, Bitcoin now has two possible scenarios in front of it. If the price fails to stabilize in the specified area, the bearish scenario will be activated. But according to the divergence of the indicated indicators in the chart, Bitcoin can advance towards $41,500 to $42,500 after stabilizing above the yellow zone. ✌💥If you are satisfied with my analytical content, please share my ideas💥✌ ✍🐱‍👤Otherwise, make sure you leave comments and let me know what you think.🐱‍👤✍ 🍾Thank you for your support. I hope you will gain profit by following my analyses.🍾
Long
by CrazyS
4
BITCOIN - Wave iii of Wave 5 In Progress...A thorough examination of previous waves indicates that we're currently in Wave iii of Wave 5. Following a bullish breakout beyond the previously mentioned levels, the $42,656 support held well, serving as an effective stop level for risk management. For those who remained patient and overlooked the volatility at the lows, their perseverance is now yielding results. With this being recognized as a 5-Wave Move, my minimum expectation now targets the highs around $49,000.
Long
by AriasWave
Bitcoin H1 | Potential bullish breakoutBitcoin (BTC/USD) is rising towards a potential breakout level and momentum could potentially carry price towards our take-profit target. Entry: 46,298.75 Why we like it: There is a potential breakout level Stop Loss: 44,915.39 Why we like it: There is a pullback support that aligns close to the 38.2% Fibonacci retracement level Take Profit: 48,579.00 Why we like it: There is a swing-high resistance level Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:BTCUSDLong
by VantageMarkets
Bitcoin analysis update(2024/2/8) wonder how come you don't follow me? Please follow me and like the posts before starting to read this analysis. If you have any questions, you can send me a message in the private message section. In the previous analysis, Bitcoin moved towards our target, I hope you made a great profit. Previous analysis in the link below. I'm really not convinced that Bitcoin will move up again like the previous analysis! But with this account, I have some faith in my second target, which is 46600. I'm also a little afraid that we'll be moving down. I will wait for the close of the daily candle and then make a decision. If you want to know about my decision, send me a private message. You can also earn a lot of money with me. I will be your financial advisor for only $550 per month!! I am waiting for you in private chat.
BINANCE:BTCUSD
by ALI_LAZGIPOUR
BITCOIN (BTCUSD): A Lot of Bullish Signals ₿ I spotted a lot of bullish confirmations on Btc on a daily time frame: 1. The price formed an inverted head and shoulders pattern and violated its neckline. 2. The right shoulder of the pattern is also an ascending triangle formation, its neckline was also violated 3. Neckline of a head and shoulders pattern represents a key horizontal resistance, the market violated that yesterday with a high momentum bullish candle. We can anticipate growth now. Next resistance - 46900 ❤️Please, support my work with like, thank you!❤️
COINBASE:BTCUSDLong
by VasilyTrader
1
BITCOIN - Long Trade Wave Identification Update...With a revised wave count, the patterns established overnight indicate a preference for an upward movement. According to this count, support is identified at $42,656. If this count holds true, we've likely already validated an upward movement, yet surpassing $43,571 would further bolster confidence. Anticipate an imminent upward breakout. Initial target set at $48,000, with potential for all-time highs contingent upon the strength of the surge.
Long
by AriasWave
⚖️💹 Bitcoin (BTC) Analysis 🌐📊📊 Current Market Status: Bitcoin holding above the 50% mark within its range. 📈 Chart Analysis: Forming a consolidative structure. RSI consistently printing lower highs since last October. 🔄 Potential Scenarios: Bearish Scenario: Fails to reclaim the 50 daily Moving Average (MA), with support levels at $37,500, $35,500, and $31,800. Bullish Scenario: Reclaims the 50 daily MA, with targets at $48,000 and $52,000. 📣 Conclusion: Observe key levels for potential market direction. Consider both bearish and bullish scenarios. Trade wisely! 📈💡 #Bitcoin #CryptoAnalysis #MarketInsights 🌐📊
INDEX:BTCUSD
by Richtv_official
BITCOIN - Long Trade Video - My Reasoning on Small\Large Degree.In this video, I outline the recent shifts in my perspective over the past few days and the reasons behind them. To make reasoned decisions within the context of AriasWave, I needed to identify a point of failure, which I accomplished within the last 24 hours. When it comes to trading, errors can result in being stopped out, but I've had several successful trades prior to this setback, so it's not overly concerning. The positive aspect is that we now have a new objective: aiming for the highs. It's crucial to recognize when one's perspective is incorrect and adapt accordingly, or else risk further losses. In this instance, the change in price action has influenced my viewpoint, as it should. The support level remains at $42,224, with a current target set at $48,000, though this may potentially increase. We'll observe how the situation unfolds.
Long
by AriasWave
2
Bitcoin- Consolidation with bearish implicationsAfter the recent dip to the 38k zone two weeks ago, BITSTAMP:BTCUSD began to rise and reached the 44k resistance level. However, the upward movement appears to be corrective in nature, and the consolidation over the past week suggests bearish implications, raising the possibility of a lower high forming at 44k. The short-term support is situated around the 42k zone, and a break below this support could trigger a new downward movement. As long as the resistance at 44,000-44,500 remains intact, my focus remains on a drop towards the 36k zone.
BITSTAMP:BTCUSDShort
by Mihai_Iacob
13
Bitcoin - Long Trade Idea - Updated Target...Based on my revised analysis, it appears that we are currently in Wave (C) of the presumed zig-zag pattern. A minimum expectation is for prices to reach the $48,000 range. To validate this projection, we need to observe a breakthrough at the $43,565 level. If this count proves accurate, it suggests a larger zig-zag pattern than initially anticipated, with a supportive level at $42,224. While the possibility of this evolving into a more extensive 5-Wave Move cannot be entirely ruled out, it is prudent to exercise caution, especially around the peak levels. It's important to note that this count has not been confirmed yet, emphasizing the need for a cautious approach.
Long
by AriasWave
2
BITCOIN - Short Trade Update - Get Ready For Wave 3 Down...Considering the recent price movements, I suggest that Wave 3 downward is on the verge of commencing. My current analysis indicates the formation of a 1-2 i-ii pattern, signaling an imminent reversal. To confirm this reversal, three key levels must be breached: $42,229, $41,890, and $41,620. In the event that Wave 3 initiates, I am unable to provide a target at this time. Updates will be provided as the process unfolds, particularly upon breaking the aforementioned levels. Further insights into this change will be elaborated in my upcoming video. For risk management, it is advisable to set a protective stop at $43,490.
Short
by AriasWave
1
BITCOIN Weekly Update 05/02/2024 - 4hr breakdownHello again, so little quick cooperation on my statement : That by prolonged time of staying in highier price range without retracing down, odds are shifting to probability of going highier with time. So for better visibility I colored chart.. Now its clearly to see, that we stuck in price accumulation before unloading move.. But, its aswell clearly to see, that with time we slowly progressing highier, to our Buyside liquidity area and is unknown if we are willing to break to Highier range... Thats why for me is important FED high, which serve at this point of time as REVERSE point for me ... If I see price going above, and not willing to work to lower part of that range.. It should be "EARLY" signal, that there are increased odds of revisiting Highs from January and potentional more... Thats WHY is this idea not labeled long or short... But, if we not START to Reversing lower very soon (next 4-12 hours), odds to price pushing above 44k increasing a lot. So AGAIN, if you decide to make move and enter the trade, using STOP LOSS is a MUST! Hopefully, this helps some of you with your perception of market. If YES, please consider liking or sharing this post, it would mean a lot for me. Thanks Joe
INDEX:BTCUSD
by cryptocapitaltrading
TheKing Summer Time- Okay, so TheKing dipped around -20%. - For some peoples it could means panic and the end of cryptos. - For Veterans those kinds of "mini crash" are very commons. - We saw already harder moves in 2019 ( White Circle ) - Now those corrections are more large simply because BTC price is higher. - Actually the situation still looking much more better than 2019-20 ( Covid ) -------------------------------------------------------------------------------------------- - i used only ichimoku on weekly Timeframe to make this analyze. -------------------------------------------------------------------------------------------- - Like always everything is in graph. - Basically BTC got a first big resistance around 32k$. ( Flat Cloud ). - Next potential resistances are around 43k$ and 48k$. ( Flat Cloud ). - For now BTC bounced on Kijun and found a support around 25k$. - The price is staying inside the cloud so it just means for now " indecision ". - Kijun Line ( Red ) is starting to make a flat around 25k$, it could mean " Build Support ". - on Weekly TF, ichimoku cloud crossed bullish. - So to get more bearish movements we need 2 confirmations at least : 1 : BTC have to dip under the red cloud. 2 : Tenkan and Kijun have to death cross ( Kijun (red line) have to go on top ). So for now, nothing is predicting a new low but time will speak. Happy Tr4Ding!
COINBASE:BTCUSD
by thecryer
4
"Pirate Chain Hits All-Time Lows: Prime Buying Opportunity!"Pirate Chain (ARRR) Cryptocurrency: A Hidden Gem Rebounding from All-Time Lows Pirate Chain (ARRR), a relatively lesser-known cryptocurrency, has been making waves in the digital asset space as it rebounds from its recent lows. With a unique focus on privacy and a dedicated team of developers behind it, ARRR is garnering attention from investors who see its potential to emerge as a leading player in the privacy coin sector. Resilience Amidst Volatility: Despite experiencing significant volatility in recent months, ARRR has demonstrated remarkable resilience, bouncing back from its all-time lows around 13 cents. This resurgence comes as a welcome relief for investors who have been closely monitoring the cryptocurrency's price movements. Privacy at its Core: At the heart of Pirate Chain's appeal lies its commitment to privacy. Built upon the ZK-SNARKs protocol, ARRR offers users a high level of anonymity and confidentiality in their transactions, distinguishing it from other cryptocurrencies in the market. This focus on privacy has positioned Pirate Chain as a frontrunner in the realm of truly anonymous digital currencies. Limited Supply, Strong Potential: With only 200 million ARRR tokens in circulation, Pirate Chain boasts a limited supply, which contributes to its scarcity and potential for value appreciation. Coupled with its active development team and growing market presence, ARRR presents a compelling investment opportunity for those seeking exposure to the privacy coin sector. A Promising Future: Looking ahead, Pirate Chain is poised for further growth and adoption as the demand for privacy-focused cryptocurrencies continues to rise. With ongoing developments and initiatives aimed at enhancing its usability and accessibility, ARRR is well-positioned to carve out a niche for itself in the ever-expanding cryptocurrency landscape. Investor Sentiment: Despite its current price level of around 22 cents, ARRR has garnered bullish sentiment from many investors who view it as an undervalued asset with significant upside potential. As Pirate Chain continues to gain traction and awareness, investor confidence in its long-term prospects remains high. Conclusion: In conclusion, Pirate Chain (ARRR) stands out as a hidden gem in the cryptocurrency market, with its focus on privacy, limited supply, and active development making it an attractive investment opportunity. As it rebounds from its recent lows and gains momentum, ARRR is poised to emerge as a leading player in the privacy coin sector, offering users a secure and confidential means of conducting transactions in the digital age.
Long
by UnknownUnicorn2319099
BITCOIN - Wave D Short Trade Idea - Fake Out Wave...As noted in the previous update, it's probable that we'll witness an upward retracement for the corrective phase of Wave D in this zig-zag pattern. Presently, we've experienced a substantial pullback, prompting the initiation of a short trade position towards the lower levels. This move is anticipated to breach the support, confirming the culmination of a peak in the overarching pattern. Resistance is identified at $43,745, with a target set at $41,435 to complete Wave D. Subsequently, I anticipate the price to rebound into the range during Wave E.
Short
by AriasWave
5