COIN-M
COIN- unfortunate development updateChart posted 83=2021 as of 10:00 ET COIN was poised for some gains, but with the recent bearish moves on BTC- this has trickled over to COIN to give the Gartley pattern some difficulty. In doing so there was an embedded deep butterfly pattern that has formed and as you can see COIN failed at the critical point of that pattern. I had hopes this may rebound, but POINT #1 had to see a bounce and support at POINT # 2. It appears price has fallen below POINT #1..and so with these developments I am changing this to a neutral/ short call. Only if we rebound to point #1 and support at point #2 does this reverse and go back upside. This could happen with an engulfing pattern, but for now I am neutral anything below red box is bearish.
Added $5k Of Coinbase Global: NASDAQ: $COIN 💰💰💰Coinbase Global, Inc. provides financial infrastructure and technology for the cryptoeconomy. The company provides primary financial account for the cryptoeconomy, a platform to invest, store, spend, earn, and use crypto assets; an online marketplace for hedge funds, money managers, and corporations; and a platform with technology and services to developers, merchants, and asset issuers that enables them to build applications that leverage crypto protocols. It serves retail users, institutions, and ecosystem partners. The company was founded in 2012 and is based in Wilmington, Delaware.
BEL is going to reach this zone. Will there be a correction? 😧Bitcoin is still moving in a downward pattern, updating its lows and highs while in a prolonged consolidation. Not showing any particular strength for growth lately.
At the same time, some altcoins are showing a very different picture. For example, Bel is moving in an uptrend pattern, locally updating its lows and highs.
Bel has a strong resistance range ahead, marked as a massive value area on the chart. Most likely, the price will react to it and correct to the lower marked area!
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
Bullish for Coinbase COINPotential LONG position on Coinbase COIN
Technical Analysis:
1. Recognizing price trading in trend.
2. Looking for price to bounce in Demand Zone
3. Looking for RSI to be oversold
4. MACD just crossing 0 line.
Fundamental Analysis:
Positives -
1. Crypto prices low
2. COIN makes money from trading fees (retail trade markets at all time high)
3. Earnings expectations have risen considerably over 3 month period, lower than previous quarter estimates. (more margin potential to beat conservative current estimate)
4. Current price considerably lower than institutional price targets
5. Significant exposure to crypto markets by major institutions over several months.
Negatives -
1. Last Quarter missed estimates
2. Crypto prices declined significantly from highs
Potential Trade Ideas:
Entry @ $220 - 210
Take Profit @$270 - 280
Will wait for signs of bottom & go LONG reversal.
Tight stop-loss.
Will trail this trade with stop to lock in profits. Possible resistance @ $250.
Get Ready To Accumulate More SHIBSHIB is currently by far one of my favourite coins. I don't have that much, but it's a good amount to be happy.
Anyways, let's take a look on the MACD and STOCHRSI. The Daily and Weekly do not have enough valid Data Points to give us any hints where we are and where we are going, but what we have on the 4h is a strong indication that we might head down to the deep to the 0.786 FIBB Area. This is where SHIB might bottom out and take us to the next moon levels. and where I'm going to set a huge buy order. Moving Averages are looking quite alright, but EMAs need to recover and turn into a bullish bias. I do not expect to see SHIB getting rugged in any kinda way, since this project is very popular now among Dogecoin Fans and Dog fans in general.
Is there a Coinbase rally to $300 in the mix?Just perusing the charts, looks like COIN is starting to show some upside strength, cracking through $250 on the daily may open up a channel to $300, possibly beyond in the relatively near-term, perhaps over the next month or so as we head towards earnings. I am passively watching this one and am not invested myself, but I do see some upside here, especially if you are going long long long.
Interested in all your thoughts.
Not financial advise... This is all for fun guys.
COIN wanting BULL swing? Chart posted 7-9-2021 approx 9:36am ET. COIN has struggled early in its ICO phase, but it appears the worst may be over.. and it is showing a bullish crab pattern bouncing on high side and if this continues to show positive price action it will take off pretty strong. Price must get above 250 before anything takes off. I have a stop limit order set for this .
If it fails to do so.. we could retrace and consolidate back down into weaker territory. but its very close to breaking the pattern right now. Also this correlates to the BTC patterns I have been charting, that also show BTC headed to higher price action as well. Ill try and get that chart posted soon. The bullish pattern may get truncated by the major resistance line, but this is a good gain if everything plays out. 98% confident it will. This is a bearish shark pattern so do expect violent price swings as it moves up especially prior to or after the consolidation consolidation area.