COIN Coinbase: Where Is It Headed?Hello friends, today you can review the technical analysis on a 1D linear scale chart for Coinbase Global, Inc. (COIN), a stock traded on the Nasdaq exchange.
Please review the chart as it is self explanatory. The overall pattern is a bearish one so there is concern for potential downside.
Also noted in the chart: Volume, Support and Resistance Lines, RSI (relative strength index), MACD, and Fibonacci Retracement.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Have you read my recent Bitcoin chart and analysis on finding the bottom. See below:
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
COIN-M
COIN 1D Chart - At ResistanceToday you can review the technical analysis idea on a 1D linear scale chart for Coinbase Global, Inc (COIN).
Coinbase price is around the major support and resistance line and has the possibility to head lower. Price target is $17-19. If price moves higher, it could go as high as $85-87. I am not confident of the price heading much higher. Including in the chart is Volume and Keltner Channels.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #millionaireeconomics
Shares of Coinbase underperform vs. cryptocurrency marketSince our previous article on Coinbase, the price of shares has drifted to new lows before staging a rebound. Currently, the price hovers around 35.6$, which is down more than 91% from its all-time high value in 2021. With many structural problems in the cryptocurrency market, we doubt the stock will reverse the primary downtrend anytime soon. Thus, after the relief ceases, we expect Coinbase to retest its recent lows.
Illustration 1.01
Illustration 1.01 shows an astounding decline of more than 90% in the value of Coinbase stock from its all-time-high value in 2021.
Technical analysis
Daily time frame = Bearish
Weekly time frame = Bearish
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
$COIN hit very precisely my short target at $62 Last time a warned you about the coming crash... And $COIN seems to have followed my chart with great precision (see my previous TA, 100% profit)
What next?
$COIN going to drop to $45 (med term), could have a small bounce to $75 before it drop to $45
from $45 it probably going to bounce to $60.
Long term short target is $13 if it fall bellow $45 🔥
Coinbase, another rotting apple? Throughout the year, we watched numerous cryptocurrency institutions go down in flames amid an unprecedented bear market. We mentioned Celsius Network, CoinFlex, Voyager, and, of course, FTX, among some other names. With many bad apples out of business, it is time to look at the remaining market players like Coinbase.
The company reported a loss of $544.64 mil. for the third quarter of 2022, which follows a $1.09 bn. loss in the second quarter and $429.66 mil. in the first quarter. The total loss for the nine months of 2022 exceeds $1.98 bn., reflecting a big blow to the company with $111.16 bn. in total assets and $105.54 bn. in total liabilities (as of 30th September 2022).
Furthermore, the company disclosed a staggering decline in trading volume from $327 bn. to $159 bn. (YoY) in the third quarter of 2022 (down from a peak of $547 bn. in Q4 2021). In our view, these are significant issues the company is facing. Indeed, we believe they will get exacerbated with the FED raising rates and regulatory scrutiny. As a result, we are very bearish on Coinbase and expect it to continue much lower, potentially facing the risk of significant problems with liquidity.
Illustration 1.01
A high correlation between cryptocurrency prices and Coinbase will continue to threaten the company's well-being.
Technical analysis
Daily time frame = Bearish
Weekly time frame = Bearish
Illustration 1.02
The yellow arrow shows a new yearly low at 39.65$.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Coinbase Global, Inc. (COIN) Looks Terrible, Losses SupportThe low for Coinbase (COIN) was set back in 12-May 2022 at $40.83.
Today, 193 days later, COIN losses this support and a new low is hit.
The volume profile spells doom for this stock.
We can see strong bear volume and weak bull volume as this new low is being hit.
Everything is about to speed up...
We can expect bottom searching on the next drop.
CHANGE
COIN needs to move and close above $50 or EMA10 for the bulls to be back in the game.
Namaste.
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COINBASE accumulatingHello traders,
I invested to COINBASE and still buying... It is almost same as buying Bitcoin. May be a bit more safer than buying bitcoin. I believe within next 12 months it will reach 350 USD min. and if bitcoin reach to 120K than COINBASE will be min. 800 USD.
(It's just my idea, not a investing advice, don't listen me.)
What do you think? Share your ideas at comments.
$COIN trade recap$COIN
The stock opened with a gap down and I had it on my watch list and trading plan, the initial idea was to take the stock from $42 if strong support was created at the level but it didn't happen and the stock went up strongly with the market up to the $45 resistance area. From there I took the stock short as soon as it broke an area there which in my opinion there is no way back for the stock to go up and the market also changed its direction down.
Entry - 44.37
Stop - 45.01
Take profit - $43 You can see that I took some profit at 43.65 but it was a little less than 5% of my risk (it was to reassure myself because there was a level of support, but not strong at all)
BAL/USDT 1D. Balancer. Interesant moneten.Baal was a title and honorific meaning "owner", "lord" in the Northwest Semitic languages spoken in the Levant during antiquity. From its use among people, it came to be applied to gods. Definition from Wiki.
Interesting coin, named after a god. Pay attention to the volume coming in(shown on the chart).
In the secondary trend the downtrend has formed(red line on chart). The price is currently under the support(yellow line). Now it acts as resistance.
Locally some form of triangle forming(the price is tightening). As the classic for the alts the target may be aroung 180%.
Also pay attention to the current zone - it's 666 zone(6.66). Taking in consideration the big volume spikes(and price spikes) we can see a good move forward.
Ripple - Bullish retail about to get hit hardWe continue to be bearish on XRPUSD and maintain our short-term price target (0.30$) and medium-term price target (0.28$). Our view is based on a combination of fundamental and technical factors. Overall, our assessment is very similar to our latest post on BTCUSD; we believe the cryptocurrency market has not bottomed out yet and has a long way to go before reversing to the upside.
Illustration 1.01
Illustration 1.01 displays the daily chart of XRPUSD. Interestingly, its structure resembles that of BTCUSD.
Technical analysis - daily time frame
RSI, Stochastic, MACD, DM+, and DM- are all bearish. Overall, the daily time frame is bearish.
Illustration 1.02
Retracement toward the 50-day SMA and subsequent failure to break above it supports our early predictions about the rally being doomed to fail right in the beginning.
Technical analysis - weekly time frame
RSI, MACD, and Stochastic are bearish. DM+ and DM- are bearish as well. Overall, the weekly time frame is bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
COINBASE in technical trouble... Noted that Coinbase COIN is in some sort of technical trouble.
Based on downside projections, the downdraft is technically aligned and sound, with a target of 23.36, by mid-December. This is a 50% cut in stock price from last Friday's closing.
An earlier breakdown of the triangle, and the more recent failure of the 2022 support last Friday suggest more downside to follow in the days and weeks ahead.
Heads up...
DASH - Long-Term View! ✒️Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
DASH has been overall bearish for a while and it is now approaching a strong weekly support and round number 30.0 in green.
DASH is forming a channel in red . For the bulls to take over from a long-term perspective, we need a break above the channel and last major high in gray (50.0)
Meanwhile, until the buy is activated, DOT would be overall bearish and can still trade lower inside the 25.0 - 30.0 support.
In this case, as price approaches the support again, we will be looking for short-term buy setups.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
XLM - Wait For The Bulls!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
XLM last week broke below the gray support and now approaching the green weekly demand zone.
For the bulls to take over from a short-term perspective, we need a daily closing back above the gray zone.
And then for the bulls to remain in control long-term, we need a daily break above the upper blue zone.
Meanwhile , until the bulls take over, XLM would be bearish and as we dive inside the weekly demand zone in green we will be looking for new buy setups to form.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Coinbase graphical and fundamental analysis (COIN)1. Graphical Analysis
Since listing on the stock exchange, the stock has had a maximum depreciation of 90%, reached on May 12, 2022.
If the downtrend continues, the $40 support will be retested and in the worst case the price will reach $30 given the Fibonacci predictions.
To reverse this bearish bias, the price needs to break through the resistance ranging from the $58 to $68 region.
2. Fundamental Analysis
- Earnings per Share
- Net income
- Free cash flow
These indicators appear to reverse a downtrend.
But given the dire scenario created by the fall of FTX, it may be too early to say that.
- Net worth
There were no big swings.
- Price to Earns Ratio
- Price to Cash Flow Ratio
From July 2022 until now, there has been an inability to generate a profit.
Ditto for the previous comment, apparently it is reversing a downtrend.
Opportunity? I don't know...
I won't know for sure until the indicator crosses the zero line and the company actually makes a profit.
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Speaking of the crypto market, it is also important to analyze the results of other companies in the cryptocurrency and blockchain sector, which are also publishing their results.
They are companies like Marathon, Riot, Hut, Core, Nile, among others.
By the way, the results that have come out so far don't look good.
Selling Coinbase slightly above previous support.Coinbase - 30d expiry - We look to Sell at 62.28 (stop at 67.21)
Our bespoke support of 60.00 has been clearly broken.
Previous support at 60.00 now becomes resistance.
Daily signals are bearish.
We are trading at oversold extremes.
There is no clear indication that the downward move is coming to an end.
This stock has seen poor sales growth.
The primary trend remains bearish.
Our profit targets will be 50.51 and 48.51
Resistance: 55.00 / 60.00 / 63.50
Support: 50.00 / 46.00 / 40.80
Daily chart
Disclaimer – Saxo Bank Group.
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