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Binance Coin can exit from wedge and decline to support levelHello traders, I want share with you my opinion about Binance Coin. Observing the chart, we can see that the price not long time ago made an upward impulse from 305 to 321 points, thereby breaking the resistance level, which coincided with the seller zone. After this price entered to downward wedge, where it rebounded from the resistance line and in a short time declined lower than the 312 level, breaking it again. Next, the price made a retest and declined until to support level, which coincided with the buyer zone, and soon BNB broke this level too and declined to support line of the wedge. Then the price turned around and made a strong upward impulse to the seller zone, breaking the 296 level one more time. After this movement, BNB rebounded from the seller zone and made correction to the buyer zone, after which the price bounced and tried to rise, but failed and declined to support line. Recently Binance Coin rebounded from this line and started to move up, so I think the price can make a small movement up, after which it will turn around and continue to decline to the support level, thereby exiting from the downward wedge. For this case, I set my target at the 296 level. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
1
$BITO Ready to Run?AMEX:BITO Kathy Woods AMEX:ARKW fund sold OTC:GBTC and bought $92mm AMEX:BITO yesterday. They also sold $COIN. There is the news. I am more of a technical trader, and I like the set-up on BITO here. I have started a one third size position in the anticipation of a break above the small consolidation area or pennant. My stop is tight, just below today’s low of day. I like the fact that it is trading above the IPO AVWAP which means that by volume most shareholders are in the money. That means there is little overhead resistance at this point. It is also trading above all the moving averages. Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
AMEX:BITOLong
by jaxdog
5
HelenP. I Binance Coin will rebound from resistance zone to $320Hi folks today I'm prepared for you Binance Coin analytics. Some days ago price declined to the support zone, which coincided with support 2, and a few time traded near, but later bounced and tried to rise higher. BNB failed and made a correction to the trend line, after which the price made a strong impulse up to support 1, which coincided with the resistance zone. In a short time BNB broke this level and started to trades inside consolidation, where the price rose to the top part, but soon turned around and made correction to the resistance zone back. Price tried three time to rise, but only the third time it finally rose. But later BNB turned around and fell back to the resistance zone, where it continues to trades near the trend line at the moment inside consolidation. For my mind, Binance Coin will fall to support 1 and then rebound and start to move up in consolidation, thereby exiting from the resistance area. That's why I set my target at the 320 level. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
2
Trend Lines & Their Significance in Minervini's Trading StrategyIntroduction In the world of stock trading, trend lines are vital tools for investors and traders alike. Mark Minervini, an acclaimed swing trader, is known for his strategic use of trend lines in assessing the strength of stock movements. This article delves into Minervini's approach, highlighting how he utilizes trend lines to identify optimal trade entries and exits, and emphasizes the significance of upward trend consistency in his methods. Utilizing Trend Lines to Gauge Stock Movement Strength Minervini leverages trend lines to evaluate the momentum and strength of a stock's movement. By connecting the lows in an upward trend or the highs in a downward trend, he creates a visual representation of the stock’s trajectory. This technique allows him to discern the stock's current trend, be it bullish or bearish, and gauge its strength. A steeper trend line indicates a stronger movement, whereas a flatter line suggests a weaker trend. In Minervini’s strategy, the angle and longevity of these trend lines are critical factors in assessing a stock's potential for continued movement in its current direction. Identifying Trade Entries and Exits Trend lines are more than just indicators of stock movement; they are crucial for identifying potential trade entries and exits. Minervini uses two types of trend lines: support and resistance. A support line is drawn along the low points of a stock's price, indicating a level where the price tends to find support and bounce back upwards. Conversely, a resistance line connects the high points, highlighting a price level where the stock often faces selling pressure. For Minervini, a break above a resistance trend line signals a potential entry point, indicating that the stock might continue to climb. Similarly, a break below a support line might suggest an exit point or a short-selling opportunity, indicating that the stock could be entering a downtrend. These trend lines, therefore, play a pivotal role in his decision-making process, guiding him on when to enter or exit a trade. The Importance of Upward Trend Consistency In Minervini's method, consistency in an upward trend is a key factor. He looks for stocks that show a sustained upward trend, marked by higher highs and higher lows, which are typically indicative of strong buyer interest and positive momentum. This consistency not only suggests a robust bullish sentiment but also provides a measure of safety, as stocks in a consistent uptrend are less likely to experience sudden drops. Moreover, Minervini emphasizes the importance of volume in these trends. An upward trend accompanied by increasing volume can be a sign of strong investor confidence, adding further credence to the strength of the trend. Conversely, an upward trend with declining volume may signal a loss of momentum, prompting a more cautious approach. Conclusion Mark Minervini’s use of trend lines is a testament to their importance in stock trading. By carefully analyzing these lines for both support and resistance, and prioritizing stocks with a consistent upward trend, he is able to make informed decisions about trade entries and exits. For traders looking to enhance their strategies, incorporating Minervini's approach to trend lines can be a valuable addition to their trading toolkit, offering a clearer perspective on the strengths and potential directions of stock movements.
DJ:DJIEducation
by JS_TechTrading
Bitcoin near term top!Bitcoin saw a nasty Daily topping tail on volume. So far it appears the ETF news is a sell the news event. Despite BTC selling off slighlty the decline really wasnt all that bad respectively. Compared to some of the equity market signals we got in the crypto stocks today. The likes of Coin, Mara, MSTR, WULF, RIOT...all saw some nasty daily reversal signals. The fact that crypto stocks sold off so greatly its showing the most speculative investors are getting cautious around this Bitcoin resistance level.
by Trading-Capital
Coinbase Partners Africa’s Yellow Card To Expand Global FootholdCoinbase teams up with Yellow Card to bring USDC to 20 African countries, revolutionizing global access to cryptos and financial inclusion. The leading global crypto exchange, Coinbase has announced a strategic partnership with Africa’s leading stablecoin exchange, Yellow Card, to pioneer the future of money across the continent. Meanwhile, this collaboration aims to provide millions of users in 20 African countries with unprecedented access to USDC, fostering faster, more reliable, and cost-effective transactions through Coinbase and Yellow Card products. Coinbase and Yellow Card Unite for Financial Inclusion Coinbase, in a recent blog, unveils a visionary initiative to expand access to its products in emerging economies, starting with Africa. The partnership with Yellow Card, a Coinbase Ventures portfolio company, promises to empower users with seamless access to USDC on the L2 Base, ensuring transactions at fees significantly lower than traditional fiat transfers. In addition, the announcement showed that Coinbase is broadening product accessibility in emerging economies, commencing with the inclusion of 20 African countries. Meanwhile, underlining the importance of this collaboration, Coinbase’s statement emphasizes that the partnership addresses specific needs in regions with high inflation rates and heavy dependence on remittances. In addition, the move is poised to bring economic freedom to these areas, protecting savings from currency volatility and facilitating remittances with reduced fees and faster processing times, according to the announcement. The partnership’s impact extends beyond individual users, particularly benefiting small and medium enterprises (SMEs) in African and other emerging economies. With the integration of USDC, these businesses gain swift access to the global financial system, overcoming challenges related to opening USD and Euro accounts that hinder cross-border growth. Moreover, in a continent where the majority of the population is young, the initiative aligns with the preferences of a tech-savvy generation. As more than seven in 10 cryptocurrency owners globally are under 34 years old, this move resonates with the expectations of a demographic accustomed to the speed, reach, and autonomy of the internet. Meanwhile, this strategic partnership aligns with Coinbase’s broader vision of global expansion, following a “Go Broad, Go Deep” strategy. By establishing clear rules and partnerships, Coinbase aims to drive innovation and bring over a billion people into the realm of cryptocurrency. Besides, the collaborative move signifies the inevitability of cryptocurrency as the driving force behind a more open, accessible, and global financial system.
NASDAQ:COIN
by DEXWireNews
Coinbase"Cathie Wood’s Ark Investment Management, the second-largest holder of Coinbase Global (COIN) stock, doubled down on its investment in the crypto exchange after the U.S. Securities and Exchange Exchange sued the only publicly traded crypto exchange sending share prices tumbling. ARK bought 419,324 shares of Coinbase, worth around $21.6 million based on Tuesday's closing price of $51.61." -Coindesk ...... Considering that this company's stock price is near it's lows, I can see why Ark Investment Management would make that move. I believe the shift begins once there's a break of the $67 level. Afterwards, it's next potential hurdle could be the $190 - $230 price range. However, I'll be even more bullish after a break of the $320.
NASDAQ:COIN
by ChrisJTradesFX
2
Bearish Crab Visible on the Crypto/Blockchain ETFBLOK is an ETF aimed at holding many Crypto and Blockchain related stocks, some of its top holdings include COIN, MSTR, MARA, RIOT, and SBI Holdings. There was a time in late 2021 where it had topped out at the PCZ of a Bearish Gartley/Bat confluence zone depending on how you plotted it and it has since gone down over 66%, however in recent months, we've seen the price of the stock begin to recover as it has made a 38.2% Fibonacci retracement from the all-time high to the most recent lows. The original level it bounced from was the 0.886 of a Bullish Shark, however we may now see this shark turn into a Bearish 5-0 as the 0.382 aligns with the PCZ of a more local Bearish Butterfly and this could result in BLOK making a lower low and would overall be a more profitable and slightly indirect way to get bearish options positioning on Coinbase and Microstrategy without buying into the overpriced puts of the underlying assets. I will leave an link to the previous 2021 bearish setup on BLOK which resulted in the top for reference as well as a link to the bullish setup that has just played its course on COIN in the related ideas section below.
AMEX:BLOKShort
by RizeSenpai
Ark Invest Offloads Another $20.6M Worth of Coinbase Shares Coinbase ( NASDAQ:COIN ) has been a standout player, attracting attention from investors and institutions alike. Recently, ARK Invest, the renowned investment firm led by Cathie Wood, sold $20.6 million worth of Coinbase shares across its ETFs. This move has sparked discussions about the potential impact on Coinbase's future, given ARK's strategy of maintaining individual stock weightings below 10% of an ETF's value. ARK Invest's Strategy: ARK Invest's decision to reduce its exposure to Coinbase comes as no surprise, considering the significant surge in NASDAQ:COIN 's price, doubling in the last three months of 2023. ARK's disciplined approach aims to prevent any individual stock from surpassing a 10% weighting in its ETFs, prompting consistent sales to rebalance the portfolios. While the Innovation ETF (ARKK) still holds over $850 million worth of NASDAQ:COIN , the latest offload has brought its weighting down to 10.04%, hinting at a potential end to the recent sales. Rebalancing Across ETFs: The reduction in Coinbase exposure is not limited to ARKK; ARK's Next Generation Internet (ARKW) and Fintech Innovation (ARKF) ETFs also witnessed adjustments. Despite carrying fewer Coinbase shares, their weightings remain relatively higher at 10.37% and 13.41%, respectively. This strategic rebalancing reflects ARK Invest's adaptability to market dynamics and its commitment to maintaining a diversified and risk-managed portfolio. Coinbase's Price Momentum: Despite the recent sales, Coinbase's stock is trading near the top of its 52-week range and above its 200-day simple moving average. This indicates sustained investor interest and positive price momentum. The surge in Coinbase's share price, fueled by broader cryptocurrency market trends, has contributed to ARK Invest's decision to rebalance its portfolios, yet the stock continues to show upward momentum, a positive sign for its future value. Investor Sentiment and Market Trends: The ongoing interest in Coinbase reflects the broader trend of increasing institutional adoption of cryptocurrencies. As traditional finance institutions and retail investors alike recognize the value and potential of digital assets, Coinbase stands as a key player in providing a gateway to the crypto ecosystem. The recent actions by ARK Invest shed light on the importance of active portfolio management in navigating the volatile cryptocurrency markets. Conclusion: Coinbase's journey in the financial markets remains a captivating one, marked by the recent actions of ARK Invest and the continued interest of investors. As the cryptocurrency landscape evolves, Coinbase's role as a leading exchange and its stock's performance will likely continue to be influenced by market dynamics. The recent rebalancing by ARK Invest serves as a reminder of the importance of strategic decision-making in the face of rapidly changing market conditions. While the cryptocurrency industry is known for its volatility, Coinbase's position at the forefront of the digital revolution positions it as a key player to watch in the months ahead.
NASDAQ:COINLong
by DEXWireNews
BNBUSDT - Price can bounce up to $327 level from support areaHi guys, this is my overview for BNBUSDT, feel free to check it and write your feedback in comments👊 Some time ago price bounced from support area, which coincided with $254 level, and declined to support line of rising channel. After this, BNB at once bounced up from this line to resistance line of channel, thereby breaking $254 support level. Next, price made little correction, and after this, it made upward impulse to $338 points, breaking $300 level and exiting of channel. Also then, BNB started to trades in wedge, where it soon bounced from resistance line and declined to support line of wedge. Now, price continues to trades very close to this line and in my mind, Binance Coin can fall to support area and then bounce up to $327 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
2
Cathie Wood’s Ark Invest Sells $20M Of Coinbase Shares Coinbase ( NASDAQ:COIN ) stands as a key player, providing a gateway for millions to enter the realm of digital assets. However, recent developments, particularly the substantial sell-off of Coinbase shares by Cathie Wood's Ark Invest, have sparked discussions about the platform's future. Ark Invest's Strategic Moves: Cathie Wood's Ark Invest has been an influential player in the crypto market, often dictating trends with its strategic moves. The recent sell-off of over $20 million worth of Coinbase shares, totaling 113,823 shares, may raise eyebrows among investors. However, understanding the context is crucial. Ark Invest's active portfolio management strategy, driven by the anticipation of a spot Bitcoin ETF approval by the U.S. SEC, sheds light on the broader perspective. Spot Bitcoin ETF Approval on the Horizon: The imminent decision by the U.S. SEC regarding the approval of a spot Bitcoin ETF adds a layer of significance to Ark Invest's actions. The crypto community eagerly awaits the outcome of this decision, with reports suggesting an announcement on January 10. Should the approval materialize, it could mark a transformative moment for the entire cryptocurrency market, potentially influencing Coinbase's future prospects. Coinbase's Resilience Amidst Sell-Offs: Despite the sell-offs by Ark Invest funds, Coinbase's resilience cannot be overlooked. The platform's commitment to expansion is evident through its recent announcement of acquiring a MiFID-licensed entity in the EU. This strategic move aims to enhance Coinbase's derivatives offerings in Europe, a clear signal of its commitment to adapting to regulatory changes and expanding its services in a competitive market. The European Derivatives Expansion: Coinbase's move to acquire a MiFID-licensed entity represents a pivotal step toward offering cryptocurrency-based derivatives in Europe. While subject to regulatory approval, this development positions Coinbase to capitalize on the growing demand for diversified crypto financial products in the region. The potential approval could fuel Coinbase's growth and contribute to its relevance on a global scale. Conclusion: As the crypto landscape undergoes significant shifts, Coinbase remains a central figure in the industry's narrative. The sell-off of Coinbase shares by Ark Invest, while noteworthy, should be viewed in the context of broader market dynamics. The anticipation of a spot Bitcoin ETF approval, Coinbase's strategic moves in Europe, and the positive sentiments from industry leaders contribute to a compelling case for potential buyers. As the crypto story unfolds, Coinbase stands poised to play a pivotal role in shaping the future of digital finance.
NASDAQ:COINLong
by DEXWireNews
1
$COIN Inverse Head & Shoulders PatternThe NASDAQ:COIN (Coinbase) Inverse Head and Shoulders pattern is a technical analysis formation that typically signals a reversal of a downtrend. In this pattern, there are three key components: Head: The middle trough, often at the lowest point, represents a temporary low in the stock's price. Shoulders: These are two peaks on either side of the head and are roughly at the same price level. The left shoulder occurs before the head, and the right shoulder follows the head. The shoulders indicate a potential trend reversal. Neckline: The line connecting the peaks of the shoulders serves as the neckline. It acts as a crucial level of resistance that the stock needs to break for the reversal to be confirmed. In an Inverse Head and Shoulders pattern, the price movement resembles the shape of a head and shoulders turned upside down. The pattern suggests a shift from a bearish trend to a bullish one. Traders often look for a breakout above the neckline as a signal to enter a long position. Additionally, the volume is closely observed, typically increasing as the price breaks above the neckline, providing confirmation of the pattern.
NASDAQ:COIN
by AlgoTradeAlert
2
TRB - Still Strong 💪Hello TradingView Family / Fellow Traders, In reference to my previous analysis (attached on the chart), TRB has broken above 140.0 and traded higher. Now, what's next? ↗️ TRB is currently overall bullish from a long-term perspective, trading inside the rising blue channel. 📈 According to my trading plan, as TRB approaches the lower blue trendline, I will be looking for bullish reversal setups on lower timeframes to catch the next bullish impulse. 🎯 As the next bullish impulse begins, our target will be the 300.0 round number marked in green. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! "All strategies Are Good If Managed Properly!" ~Richard Nasr
Long
by TheSignalyst
3