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COINBASE Can catapult above $300 any time.Coinbase Global (COIN) has been trading within a long-term Channel Up pattern since the October 27 2023 bottom. Its long-term Support level is the 4H MA200 (orange trend-line) which was most recently tested on May 14 2024 and held. Just like the February 07 (near) test, this is technically the latest Higher Low of the Channel Up. The break-out above the Falling Wedge that followed, similar to the February bottom, has found Support on the 4H MA50 (blue trend-line), which held even during Friday's dramatic pull-back. With the Sine Waves accurately depicting COIN's all recent bottoms (Higher Lows) and tops (Higher Highs), they clearly show that we are past the latest bottom and have already started the new Bullish Leg to a Higher High. The previous one was priced just above the 1.786 Fibonacci extension level. As a result, we remain bullish on this stock, setting a new price Target at $380.00 (Fib 1.786), which can be achieved by mid-July. ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NASDAQ:COINLong
by TradingShot
COIN setting up long after a pullbackCOIN has a big jump July 13 after some good news on SEC litigation against crypto and a court ruling was issued. It is shown here on a 15 minute chart. Since a double top it went sideways for a week and then down trended. The anchored VWAP bands serve to give context and serve to show dynamic support and resistance price was at the mean VWAP on July 13th when it popped. In the price action since price did a VWAP breakout and then a breakdown to bounce off the same mean VWAP black line and is now a bit above it. As I believe COIN is now trending up with the relative strengths of the low and high time frames at about the 50 level. I have set a stop loss below the VWAP line and targets as TP1 -105 TP2- 107 and TP3 -109 although the price could reach the highs of 7/13 especially if there are legal or regulatory updates favorable to the cryptocurrency sector. I will also take a look at RIOT and MARA.
NASDAQ:COINLong
by AwesomeAvani
BTCUSD (To Achieve More)Bitcoin Liquidates $85M in Shorts, Eyeing $100K Price Target Bitcoin saw a significant surge leading up to the previous daily close, with substantial buy liquidity driving the market close to $72,000. This rally resulted in the liquidation of $85 million in BTC shorts within the past 24 hours, according to data from CoinGlass. Statistician Willy Woo commented that bulls are now challenging overhead resistance that has been in place for over a month. Technically: The price stabilized in the bullish zone as predicted in our previous analysis, reaching targets of 69030 and 71660. Currently, a correction is expected down to 69040 before the price attempts to push up to a new all-time high. The price is likely to consolidate between 69030 and 71660 until a breakout occurs. A decisive break below 69030 with a daily close under this level would signal a downtrend. Key levels to watch: - Pivot Price: 71660 - Resistance: 73810, 76500, 80150 - Support: 69040, 66850, 64900 The price movement is anticipated to range between 69040 and 73810. Previous idea:
BITSTAMP:BTCUSDLong
by SroshMayi
1
Bitcoin (BTC/USD) - Weekly - Potential Support Trendline TestBitcoin (BTC/USD) has been in a long-term price uptrend since 2023. However, Bitcoin has been in a short-term downtrend since April 2024. Bitcoin price could potentially re-test Support Trendline 1 and support prices of approximately $56000 down to $55000. Bearish Scenario: price falls and test support levels below such as $58000, $55000, $50000, $45000, $40000. Bullish Scenario: price bounces and continues higher to resistance prices of $64000, $69000, $73000, $77000, $80000. Note: crypto regulatory changes, government vs crypto exchange lawsuits, breaking news, corporate earnings, and global events could override technical chart patterns. Date created: 05/10/2024
BITFINEX:BTCUSD
by NoFomoCharts
(COIN) coinbaseRed line connects two points based on exponential moving averages. I don't use SMA and have read that weighted is better than exponential. Hull is better than both and Alma is a modern take only created within the last 20 years. I suppose it all depends on what moving average line the person buying uses to base their decisions. If a super rich person uses Simple Moving Average and I'm using something else, will we both see the same thing? Also, why would someone educated and wealthy use something called "simple moving average?" If you were wealthy and educated what would you use?
NASDAQ:COINLong
by CryptocurrencyBlot
Coinbase's high uncertainty rating explained, key zone $190Coinbase's stock price has been in a downward consolidation phase since March, with a key level zone identified at $190. This zone represents previous highs and serves as a crucial support level during this period. A breach below $190 could trigger selling pressure, potentially pushing the price lower towards the open gap at $143. This scenario suggests that a break below $190 may signal further downside momentum in Coinbase's stock price. Coinbase's first-quarter earnings, scrutinized by Morningstar, revealed robust growth driven by surging cryptocurrency prices and volatility. Revenue more than doubled to $1.6 billion, bolstered by a $737 million gain on mark-to-market cryptocurrency assets, resulting in a net income of $1.18 billion. The retail trading business emerged as the primary revenue driver, experiencing a 99% increase from the previous quarter and a remarkable 184% surge from the previous year, totaling $935.2 million. Despite concerns over long-term price competition due to high fees relative to peers, Coinbase's market share remained resilient, with average pricing trending upwards. Economic Moat Rating and Financial Strength Morningstar assessed Coinbase's economic moat as nonexistent, despite its leading position in the US cryptocurrency exchange market. The company's reputation for reliability and compliance has allowed it to charge higher fees than many competitors. With over $5.1 billion in cash and significant cryptocurrency assets, Coinbase maintains a strong financial position, providing flexibility during periods of market volatility. Risk and Uncertainty, Bull and Bear Perspectives Coinbase's exposure to cryptocurrency prices and trading volume, coupled with regulatory uncertainty and interest rate exposure, contributes to its Very High Uncertainty Rating. Bulls emphasize Coinbase's leading market position and potential for global expansion, while bears caution against the cyclical nature of cryptocurrency markets and regulatory challenges, including allegations of acting as an unregistered securities exchange by the SEC.
NASDAQ:COIN
by Vestinda
BNBUSDT - Price can break resistance level inside rising channelHi guys, this is my overview for BNBUSDT, feel free to check it and write your feedback in comments👊 Recently price entered to falling channel, where it soon broke resistance level, which coincided with resistance area. After this, BNB reached resistance line of channel and then bounced down to support line, breaking $604 level again. Then price made downward impulse, exiting from falling channel and breaking $560 level. But then, BNB turned around and started to grow inside rising channel, where it broke $560 level again and continued to grow. Later price reached resistance line of channel, but at once bounced and fell to support line, where now it continues to trades near. In my mind, Binance Coin can bounce up from support line of channel to $615, breaking resistance level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
New Class Action Lawsuit Filed Against Coinbase Stock Down 2.45%Coinbase Global ( NASDAQ:COIN ) and CEO Brian Armstrong are facing a class action lawsuit from complainants claiming that the company misled them into buying securities. The lawsuit argues that digital assets listed on Coinbase are securities, and they also allege that Coinbase Earn accounts violated securities laws by advertising and promoting for higher yields. The plaintiffs also claim that Coinbase ( NASDAQ:COIN ) admitted it is a "Securities Broker" in its user agreement, making digital asset securities sold by the exchange as investment contracts or other securities. The plaintiffs are seeking full recession, statutory damages under state law, and injunctive relief in a demand for a jury trial. The lawsuit is similar to other class actions and the SEC lawsuit. Coinbase ( NASDAQ:COIN ) has escalated its legal dispute with the U.S. SEC by filing an interlocutory appeal on the "investment contract" definition. Coinbase's CLO, Paul Grewal, believes that the exchange has a higher chance of victory as the SEC's interpretation of investment contracts doesn't align with Second Circuit and Supreme Court cases. Coinbase's interlocutory appeal is also critical for the Ripple Vs SEC lawsuit, as the SEC could appeal Judge Torres' ruling that programmatic sales of XRP are not securities. Technical Outlook Coinbase Stock ( NASDAQ:COIN ) was down 2.45% on Friday's market close trading below the 50-day Moving Average with a Relative Strength Index (RSI) of 48.39.
NASDAQ:COIN
by DEXWireNews
1
COINBASE Bottomed and turning bullish for 2 months.Coinbase (COIN) completed a 2-day green streak following a Lower Low within the Falling Wedge, which is technically the Bearish Leg of the 6-month Channel Up pattern that started on the October 27 2023 Low. By tomorrow the 4H MA50 (blue trend-line) would have crossed below the 4H MA100 (green trend-line), forming a Bearish Cross, which is a pattern last seen on February 02 2024. The stock bottomed 2 days later, above the 4H MA200 (orange trend-line), which is currently at. In contrast to the stocks Lower Lows, the 4H RSI formed Higher Lows, which is a Bullish Divergence, the same kind of pattern it completed on February 05. Technically, once it breaks above the 4H MA50 again, we will have a confirmed Bullish Leg (dotted) at its very start. The last one reached the 1.786 Fibonacci extension, so we are targeting at least $370.00 on this run. It is worth noting that there is a high degree of consistency in the frequency on the Highs and Lows of the Channel Up, which is clearly shown by the Sine Waves on this chart. ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NASDAQ:COINLong
by TradingShot
HelenP. I BNB can break resistance level and continue to growHi folks today I'm prepared for you Binance Coin analytics. Some time ago price made a little movement down and then turned around and made a strong impulse up to 645 points, breaking the resistance level, which coincided with the resistance zone. But later BNB turned around and in a short time declined to the support area, which coincided with the support level, breaking the 612 level one more time. Then BNB rebounded from the support zone and rose to the resistance zone, but when it entered to this area, the price at once rebounded and made a correction movement. After this Binance Coin in a short time rose back to the resistance area and then made a strong impulse down to the trend line, which is located below the support zone. After this movement, BNB started to rise between the trend line and soon reached the resistance level again, breaking the 524 support level again. At the moment, the price continues to trades near this resistance level and I expect that BNB will break the resistance level, make retest, and continue to move up near the trend line, therefore I set my target at the 645 level. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
COIN 260 - 273 AFTER EARNINGS ?Why Coinbase Could Soar to $260 Post-Earnings Coinbase, the renowned cryptocurrency exchange platform, has been making headlines with its impressive financial performance. As we approach the next earnings release, there’s a palpable buzz around the possibility of the stock price hitting the $260 mark. Here are some compelling reasons why this could become a reality: Strong Earnings Report: Coinbase recently reported earnings per share (EPS) of $1.04 for the quarter, significantly surpassing analysts’ consensus estimates1. This positive surprise is a testament to the company’s robust revenue generation and cost management strategies. Revenue Growth: The company’s net revenue reached $905 million in the fourth quarter, marking a 45.2% increase from the previous quarter2. This surge in revenue reflects Coinbase’s ability to attract and retain a substantial user base, despite the volatile nature of the cryptocurrency market. Profitability: For the first time since the fourth quarter of 2021, Coinbase reported a net income of $273 million2. This return to profitability could be a strong indicator of the company’s financial health and operational efficiency. Market Position: With a mission to increase economic freedom worldwide, Coinbase has established itself as a leading platform in the crypto economy3. Its comprehensive suite of services, including trading, staking, and safekeeping, positions it well to capitalize on the growing interest in cryptocurrencies. Analyst Optimism: Some analysts have set high price targets for Coinbase, with predictions reaching as high as $2764. This optimism is fueled by the company’s consistent performance and the expanding adoption of crypto assets. Technological Edge: Coinbase is not just a marketplace for crypto transactions; it’s also a technology provider that enables developers to create innovative crypto products3. This dual role could be a key driver in the company’s future growth and stock price appreciation. Macro Factors: The broader financial market’s sentiment towards cryptocurrencies and blockchain technology can significantly impact Coinbase’s stock. Positive developments in the crypto space often translate into increased trading volumes and higher revenues for exchanges like Coinbase.
NASDAQ:COINLong
by NYRUNSGLOBAL
COINBASE around the 1D MA50 but the MA100 more likely to supportCoinbase Global (COIN) rose as high as our last target (March 05, see chart below) and has been pulling back since: The best way to view this short-term correction is on the diverging Channel Up (blue) which started on the October 27 2023 bottom. As with the longer term Channel Up, it consolidates considerably below the 1D MA50 (blue trend-line), with the last (February 05 2024) Low finding support just above the 1D MA100 (green trend-line). As a result we expect a Higher Low for the diverging Channel Up close to 185.00, before start seeing the new Bullish Leg. In addition, we need to see the 1D RSI touching its 2-year Support Zone, which usually tends to touch it twice during an Accumulation Phase. The price also tends to Double Bottom. This means that there will be time most likely (always account for how strongly the Bitcoin Halving might do to the market) to identify the new bottom and most optimal buy entry based on the conditions above. We are willing to buy there for the Bullish Leg that will follow and target $370.00, which is the top of the long-term Fibonacci Channel. Note that in case of a break-out, the price can even go as high as the 2.0 (blue) Fibonacci extension ($440.00), which is around the Fib level that the last two Higher Highs where priced. ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NASDAQ:COIN
by TradingShot
Coinbase Faces Legal Turbulence: Class Action Lawsuit RevivedIn a significant turn of events, Coinbase ( NASDAQ:COIN ), a leading cryptocurrency exchange, finds itself embroiled in legal turmoil as a class action lawsuit, initially dismissed in 2021, is revived by the 2nd US Circuit Court of Appeals. This development thrusts the platform into the spotlight once again, reigniting debates over the regulatory landscape of digital assets. The lawsuit, spearheaded by Louis Oberlander against Coinbase Global Inc., alleges that the exchange facilitated the sale of 79 digital assets, which consumers argue constitute illegal contracts due to Coinbase's purported lack of registration with the US Securities and Exchange Commission (SEC). This resurgence of legal action underscores the complexities and uncertainties surrounding the regulation of cryptocurrency markets. While the revival of the lawsuit may seem like a setback for Coinbase ( NASDAQ:COIN ), Chief Legal Officer Paul Grewal remains steadfast in his response, applauding the court's affirmation that the exchange bears no private liability for the secondary trading of digital assets on its platform. Grewal's stance reflects Coinbase's preparedness to confront legal challenges head-on, underscoring the platform's confidence in the contractual agreements users enter into while engaging with the exchange. However, the legal battle is far from straightforward. The appeals court's decision to revive the lawsuit hinges on nuanced legal interpretations, including the identification of specific contracts meeting cancellation requirements under the law. Moreover, questions arise regarding the validity of user agreements and their implications for the dismissal of the class-action suit, adding layers of complexity to the ongoing legal saga. Central to the plaintiffs' allegations is Coinbase's purported promotion of token sales through various means, including providing users with asset descriptions, purported values, and engaging in promotional activities such as news updates and price movement alerts. These claims underscore the evolving role of cryptocurrency exchanges in shaping market dynamics and investor behavior, raising pertinent questions about accountability and transparency. As the legal proceedings unfold, Coinbase's response to the revived lawsuit will be closely scrutinized, with broader implications for the cryptocurrency industry's regulatory framework. The outcome of this legal battle could potentially reshape industry practices and set precedents for future litigation involving digital asset exchanges. In conclusion, Coinbase's resurgence in the legal spotlight underscores the growing pains of the cryptocurrency industry as it grapples with regulatory uncertainties and legal challenges. As stakeholders await further developments, the case serves as a litmus test for the evolving dynamics between cryptocurrency exchanges, regulators, and investors in an increasingly scrutinized market landscape.
NASDAQ:COINShort
by DEXWireNews
Ark Invest Sells $6.4 Million Worth of Coinbase SharesArk Invest, the investment firm led by Cathie Wood, has sold an additional 25,662 shares of Coinbase ( NASDAQ:COIN ), worth $6.4 million, as part of its ongoing re-balancing strategy. The firm sold 22,690 shares worth $5.7 million from its Innovation ETF and 2,972 shares worth $742,000 from its Next Generation Internet ETF. This marks the first major sale of Coinbase ( NASDAQ:COIN ) shares by Ark Invest since it offloaded $21 million worth of the stock in March 2021. The firm's investment strategy aims to maintain diversification within its funds by not allowing any individual holding to take up more than 10% of an ETF's portfolio. As Coinbase's stock price continues to rise relative to other holdings, Ark Invest will likely continue to re-balance its fund weightings. Oppenheimer, a New York-based investment bank and financial services firm, recently raised its price target for Coinbase to $276, up from a previous target of $200, while reiterating its buy rating. According to Oppenheimer's Executive Director, Owen Lau, the adoption of digital assets continued after the approval of spot Bitcoin ETFs in January, and the firm estimates that Coinbase's trading volume will increase by 95% quarter-on-quarter and 107% year-on-year to $300 billion. Oppenheimer's price target is 10.5% higher than Coinbase's closing share price of $249.61 on Thursday. Coinbase ( NASDAQ:COIN ) currently has a market value of $46.4 billion. Technical Outlook Coinbase ( NASDAQ:COIN ) stock is trading above the 200-day Moving Average (MA) with a moderate Relative Strength Index (RSI) of 53.70 not indicating a clear cut of the stock abode. NASDAQ:COIN is down by 1.67% as at the time of writing aiming towards the Support Level of $228 mark.
NASDAQ:COINShort
by DEXWireNews