MicroStrategy's Bullish Run: A Closer LookMicroStrategy, a business intelligence company, has been making significant strides in the cryptocurrency market, particularly with its substantial Bitcoin holdings. The company's market capitalization is inching closer to that of Coinbase, a major cryptocurrency exchange. This surge in valuation has sparked interest and speculation among investors and analysts alike.
A Strategic Bitcoin Bet
MicroStrategy's aggressive Bitcoin buying strategy, spearheaded by CEO Michael Saylor, has positioned the company as a major player in the cryptocurrency space. The company's belief in Bitcoin's long-term potential as a store of value and a hedge against inflation has driven its decision to allocate a significant portion of its treasury to the cryptocurrency.
This strategic move has paid off handsomely, as Bitcoin's price has soared recently. As a result, MicroStrategy's stock price has also experienced substantial growth, attracting the attention of investors seeking exposure to the cryptocurrency market without directly owning Bitcoin.
Market Cap Milestone Looms
With its market capitalization steadily rising, MicroStrategy is on the cusp of a major milestone: overtaking Coinbase's market cap. At the time of writing, MicroStrategy is just $3.9 billion away from achieving this feat. This would be a significant achievement for a company that was once primarily known for its business intelligence software.
Factors Driving MicroStrategy's Success
Several factors have contributed to MicroStrategy's impressive performance:
1. Bitcoin's Price Appreciation: The continued rise in Bitcoin's price has directly benefited MicroStrategy, as the company's Bitcoin holdings have increased in value.
2. Institutional Adoption of Bitcoin: Growing institutional interest in Bitcoin has legitimized the cryptocurrency and increased its appeal to mainstream investors.
3. MicroStrategy's Strong Balance Sheet: The company's solid financial position has enabled it to weather market volatility and continue its Bitcoin accumulation strategy.
4. Investor Confidence in Michael Saylor's Vision: Saylor's unwavering belief in Bitcoin and his ability to execute on his strategy have instilled confidence in investors.
Technical Analysis: A Bullish Outlook
Technical analysis of MicroStrategy's stock chart reveals a bullish trend. The stock has been forming higher highs and higher lows, indicating a strong uptrend. Additionally, the recent surge in trading volume relative to Nvidia, a tech giant, suggests increased investor interest and potential for further price appreciation.
The MicroStrategy stock-to-BTC ratio has also hit an all-time high, surpassing the levels seen during the 2021 bull run. This indicates that investors increasingly value MicroStrategy's Bitcoin holdings, which could further drive the stock price higher.
Potential Risks and Challenges
While MicroStrategy's future looks promising, it is important to acknowledge the potential risks and challenges that could impact the company's performance:
1. Bitcoin Price Volatility: Bitcoin's price is highly volatile, and any significant decline could negatively impact MicroStrategy's valuation.
2. Regulatory Uncertainty: Changes in cryptocurrency regulations could create uncertainty and hinder the company's operations.
3. Competition from Other Bitcoin-Focused Companies: Other companies may emerge as strong competitors, challenging MicroStrategy's dominance in the Bitcoin investment space.
Conclusion
MicroStrategy's impressive performance and its strategic focus on Bitcoin have positioned it as a major player in the cryptocurrency market. As the company continues to execute its strategy and benefit from Bitcoin's long-term growth potential, its market capitalization could surpass that of Coinbase, marking a significant milestone. However, investors should be mindful of the inherent risks associated with cryptocurrency investments and conduct thorough research before making any investment decisions.
S-COIN
Coinbase (COIN): Strong push ahead after Bitcoin surge!After our last analysis on NASDAQ:COIN two months ago, we saw another leg down into the golden pocket and the imbalances we were watching. These got partially filled, reaching around 50%, which provided the necessary strength for a push higher. This recent jump is largely due to Bitcoin's rise over the past weeks, as Coinbase, being a major holder of Bitcoin, has directly benefited from this positive development.
This surge was strong enough to invalidate the bearish trend on the higher time frame, confirming that a bullish sequence is now in play. The biggest and closest resistance ahead is the VAH (Volume Area High) traded since November 2023. With the RSI currently overbought and showing a bearish divergence, a pullback could be on the horizon. However, we aren't too concerned about this unless the price drops below $160.50. The bullish outlook will only be invalidated if it dips under $145.
One thing to note about NASDAQ:COIN is its heavy correlation with Bitcoin, which introduces more volatility. The crypto market is also playing a key role in the U.S. elections, with both Trump and Harris addressing the sector. This could provide some tailwinds for Coinbase in the future.
In terms of the broader outlook, the potential wave ((iii)) could see a rise toward $263-$323, though this will take time to unfold. Given the market dynamics, it's better to remain cautious, but the setup looks promising.
Overall, we continue to monitor NASDAQ:COIN closely, but we are more inclined to invest in Bitcoin itself due to the inherent correlation and volatility with the stock.
RNT crypto backed by Andrew TateRNT, a relatively new player in the cryptocurrency market, has been gaining attention recently, especially with its association with Andrew Tate, a controversial yet widely recognized figure. Despite Tate’s polarizing public persona, his influence has brought a surge of interest to the coin.
One of the key reasons why RNT seems poised for a breakout is its small market cap, currently sitting at just $7.5 million. This leaves plenty of room for growth, especially as the trading volume has been steadily increasing. Increased volume often signals rising interest, and with rumors of potential new listings on the horizon, RNT may be positioned to attract more investors.
For those willing to embrace the volatility and the risks associated with backing a coin tied to a controversial figure, RNT could present an intriguing opportunity. As it stands, it appears ready to capitalize on market momentum, with investors anticipating a significant move upward. Keep an eye on new developments, as this coin could be on the verge of capturing more mainstream attention.
Goatseus Maximus is meme NO.1 for this bull run! TA+TRADE PLAN🚀🚀🚀 MEMECOIN No.1 FOR THIS BULLRUN 🚀🚀🚀
Goatseus Maximus is primed to be the KING OF MEME COINS this season! With a powerful symmetrical triangle pattern, an incoming breakout, and massive hype potential, GOATSEUS MAXIMUS is set to dominate the market. This coin isn’t just riding the meme wave—it’s about to surf it to HUGE GAINS! 🌊💎
Get ready for the next big thing in crypto. With strong technicals, an upcoming bullish breakout, and a dedicated community, GOATSEUS MAXIMUS is about to hit the moon! Don’t miss the ride of a lifetime! 🌕✨
Goatseus Maximus is forming a symmetrical triangle pattern during an overall uptrend, a continuation pattern that often precedes a breakout in the direction of the prevailing trend. In this case, given the prior upward momentum, the odds are in favor of a bullish breakout.
Key Technical Insights:
Symmetrical Triangle: The price has been consolidating within the triangle, making higher lows and lower highs. This signals market indecision, but as the triangle narrows, an imminent breakout is expected.
Volume Spike: The volume shows a notable increase (175.9K), a positive signal that a strong move may follow soon, potentially confirming the breakout direction.
Indicators:
RSI (Relative Strength Index): At 54.21, the RSI suggests the coin is in a neutral zone, with more room for an upside move before hitting overbought territory.
Stochastic Oscillator: Sitting at 57.79, it shows momentum is gradually turning positive, which aligns with a potential breakout to the upside.
Support and Resistance Zones:
Support: The orange zone between $0.08 - $0.10 acts as a solid support area where buyers could step in.
Resistance: The current resistance levels are projected near $0.16 and $0.20. A breakout from the triangle could push the price toward these levels.
Trading Plan:
Entry Strategy:
Enter long on a confirmed breakout above the upper trendline of the triangle (above $0.14 - $0.15). Ensure that volume supports the breakout to avoid a false move.
Consider setting a pending buy order slightly above the triangle resistance line at $0.1505 to catch the breakout early.
Stop Loss:
Place a stop loss just below the lower trendline of the triangle (around $0.105) to protect against invalidation of the pattern.
Alternatively, if the price breaks below the support zone near $0.08, consider exiting, as this would signal bearish momentum.
Profit Targets:
First Target: $0.18, aligning with the next significant resistance zone.
Second Target: $0.24, based on the measured move from the base of the triangle, offering a strong risk-to-reward ratio.
Risk Management:
Ensure that the position size adheres to a 2-3% risk of your total portfolio.
Monitor volume and price action closely for any signs of reversal after a breakout.
COINBASE Enormous upside from this point. $360 minimum Target.Coinbase (COIN) has staged a strong bullish turnaround since our last analysis (September 09, see chart below) and it appears that we caught the perfect bottom buy:
The stock has been trading within a long-term Channel Up since the first week of January 2023 (22 months). Within this time span, it has seen 4 corrections with the latter being the longest as we haven't seen a new High since the week of March 25 2024. The current correction is almost the same (-48.50%) as the January - April 2023 (-47.15%), while the other two have been around -39%.
The key for now is to close a 1W candle above both the 1W MA50 (blue trend-line) and the 1D MA50 (red trend-line). That will be the last confirmation for this Bullish Leg. This on its own is a very pessimistic development, with the presence of only the 1W MA100 (green trend-line) remaining to offer support long-term.
Now as for the upside, the minimum % rise of a Bullish Leg within this Channel Up has been +146.82% (two times). As a result, as long as the 1W RSI closes this week above its MA trend-line (yellow), a bullish signal that emerged on all previous 4 bottoms of the Channel, we can expect the new Bullish Leg to rise on a minimum +146.82% from its bottom, which gives us a $360.00 Target.
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COIN, ready for BULL SEASON - coincindes market trend shift! ↑↑↑COIN is registering massive volume surge this past few days / weeks. The weighty net buying attributed to market's anticipation to both fundamental and technical upside valuation.
Price has started shifting notably since it's last 'green' calls on its earnings report last March 2023 where EPS beat by +150% over expectation. Since then the company has experienced a +50% price growth.
Monthly histogram is showing seven straight monthly ascend conveying that buyers has started accumulating since the start of the year -- and the current price is being reflected now by the net positive volume.
Pricewise, COIN has recorded a downtrend break based on monthly data-- giving us a clue of what's to come. Bubble up volume (bottom indicator) has recorded its 4th straight signal for this year; cementing its intended goal direction: UPSIDE.
Spotted at 79.0
TAYOR
Safeguard capital always.
LRCUSD LOOPRING IS THIS THE END?not really, unless something super major happens which is outside of TA and puts the coin down to nearly nothing.
Overall, RSI is bearish, but gearing up to move bullish for at least a little bit, at which point, it can reject the short term trend and continue to funnel down or it doesn't and the short term trend ends up moving LRC to the higher price targets.
Everything is marked on the chart.
This is the Monthly view so really long term viewpoint.
Anyway, all the other LRC charts cover a lot of the moves, trends and price targets so this one is staying simple.
COINBASE: Be ready to buy if it crosses the 1D MA50. Target $360Coinbase is neutral on its 1D technical outlook (RSI = 46.702, MACD = -4.680, ADX = 25.125) as after last Friday's (Sep 27th) rejection on the 1D MA50, it hit the bottom of the long term Channel Up and is consolidating. In similar instances inside this pattern, such consolidation was the formation of the new bottom of the Channel. A bullish divergence on the 1D RSI usually accompanies this formation, which is what we have now also. Consequently, if the price crosses over the 1D MA50 now, it will be the trigger buy signal. The target may be a minimum of +144.73% rise (TP = 360), as all prior rallies achieved at least this rise.
See how our prior idea has worked out:
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COIN Technical Analysis: Wave (4) Correction Nearing CompletionTechnical analysis chart of the cryptocurrency "COIN" using Elliott Wave Theory. Elliott Wave Theory is a technical analysis method that suggests that financial markets move in predictable patterns based on a series of five waves.
The information provided in this post is for educational purposes only and should not be considered as financial advice. There is a risk of being completely wrong, and users are warned not to trade or invest solely based on this study. The content is not an advisory and does not guarantee profits. We are not responsible for any kind of profits and losses; individuals should consult a financial advisor before making any trading or investment decisions.
Based on the chart, we had identified a potential impulse wave pattern from January 2023 to the present. An impulse wave pattern consists of five waves, with each wave labeled (1), (2), (3), (4), and (5).
Wave (1): This is the first wave in the impulse pattern and is typically a strong upward trend. In this case, wave (1) appears to have run from the low near 31-32 to a high near 114.
Wave (2): This is a corrective wave that moves in the opposite direction of wave (1). It is typically a retracement of wave (1), but it can also extend beyond the starting point of wave (1). Wave (2) appears to have run from the high near 114 to a low near 69.
Wave (3): This is the second wave in the impulse pattern and is typically a strongest upward trend that extends most of times. Wave (3) given move from 69 to 283
Wave (4): This is a corrective wave that moves in the opposite direction of wave (3). It is typically a retracement of wave (3). Wave (4) is currently in progress, but at verge of completion now any time.
Wave (5): This is the final wave in the impulse pattern and is typically a strong upward trend that completes the pattern. Wave (5) is expected to start soon and could potentially reach the levels of 300 plus.
I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Hope this post is helpful to community
Thanks
RK💕
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
Coinbase at a Crossroads: Rally to $340 or Drop to $100?**NASDAQ: COIN (COINBASE) 1W/1D**
On the **Weekly timeframe**, :
In my previous analyses ( ) the Golden Cross on the daily moving average was noted, indicating bullish momentum at the time. The price was in a Rising Wedge formation, a pattern often signaling an upcoming downward move, especially in the context of an Elliott Wave count where we were in Wave 3. This strong upward movement at the time allowed for further rises, but also warned of a possible correction in the form of Wave 4.
Now, a few months later, after reviewing the chart, I have slightly extended Wave 3, in which this impulsive wave also displays a clean 1-2-3-4-5 pattern. The previously mentioned correction has been in play. The price is currently at the support line of the earlier Rising Wedge. The question now is whether Coinbase can bounce back again or whether further decline towards the underlying #fibonacci levels will follow.
**On the Daily timeframe**, :
We can see that the downward correction, which began in July 2024, has reached a bottom around $146, fitting within the larger correction from the weekly analysis. The price now appears to be recovering slightly towards the #ema 50 at $187.67, which is a resistance level. The momentum is supported by a strong #stoch, but it is currently in the overbought zone, indicating a potential cooling off. Key levels to watch are the #fair-value-gap around $187 and $216. If the price breaks through these resistance levels, it could lead to further upward movement towards $240, ultimately completing Wave 5 towards $340. However, if momentum decreases, a fallback towards the previous bottom at $146 or the psychological $100 remains possible.
**Conclusion:**
Although there is room for further rises towards $240 and eventually $340, signals such as the overbought #stoch and proximity to resistance levels also point to a potential cooling off. If momentum decreases, the price could retreat to previous lows around $146 or even towards the psychological level of $100.
**Resistance levels:**
- $187 (#ema 50)
- $216 (#fair-value-gap)
- $240 (resistance line from the rising wedge formation)
- $340 (Wave 5 target)
**Support levels:**
- $146 (previous bottom)
- $100 (psychological level)
*Disclaimer: This is not financial advice. Always do your own research and carefully assess your risks.*
Coinbase: Not Yet!Although Coinbase has moved upward within our orange Target Zone (between $180.58 and $134.06), we must still reckon with a lower low of the orange wave ii as the stock can use the whole range of our Zone to complete the current movement. However, since the technical requirements for this corrective move have already been met, the price could also continue to rise directly. In any case, the orange wave iii should surpass the resistance at $323.70, so our Zone still offers long entry opportunities to profit from the expected increases. For hedging purposes, a stop may be placed 1% below the Zone’s lower edge.
Since Mid-2024 Coinbase SP has been sucked down with all Crypto!
Coinbase is a well established setup and professional company in the Crypto world, a new-base may be forming on its chart and new, fresh buying emerging right now.
This next 15 minute shows the bottom of the Coinbase chart structure.
See next chart below
$ARKMUSD Daily Timeframe (long opportunity) Trade Analysis Daily Timeframe COINBASE:ARKMUSD Trade Analysis
Key Focus: 0.970 Area
The 0.970 level here's what to expect:
When price reaches 0.970, I anticipate a long entry to target 1.051 level for a quick daily 1:1.
Upside look
If price closes with a body above 1.216, I would anticipate a pullback to eventually head to the following targets:
Initial target: 1.405
Secondary target: 1.500 (previous highs)
Ultimate target: 1.799
While price is heading to these targets we can jump on the LTF and find a bunch of entry opportunities.
If you know in which direction price is heading, then you just have to find a way to get in and get out, secure profits
We may see a rejection between the 1.562 and 1.476 area before taking the 1.562 high.
This analysis emphasizes the importance of the 0.970 level while maintaining awareness of potential upside targets.
Opening (IRA): COIN Oct 18th 130/140/200/210 Iron Condor... for a 3.66 credit.
Comments: High IV at 73.4%. More small stuff while I twiddle my thumbs. Skewing this just a smidge long, with resulting delta at 2.35.
Metrics:
Buying Power Effect/Max Loss: 6.34
Max Profit: 3.66
ROC at Max: 57.72%
50% Max: 1.83
ROC at 50% Max: 28.86%
Will generally look to take profit at 50% max; roll in untested side on side test.
Bitcoin is about to go boom! Bitcoin has been putting is some near term lower highs and lower lows.
The daily chart trend is starting to breakdown and show signs of distribution.
The weekly chart trend is still ok but even if we had a flush to 40k the Weekly chart would still display higher lows.
The point of this higher low excercise is to define trend and know that trends can often have a large range.
That being said I think a short setup in BTC is brewing. a retest of the 50 & 100 MA will likely prove to be very strong resistance as we keep losing the key larger term MA's.
As banks and potentially the stock market lose some momentum its going to be interesting to see how crypto is going to hold up.
CRYPTO COIN - ATOM = LONG As I wrote in previous posts, many coins are currently forming a descending wedge. It can be noted that the ATOM coin was heavily sold off with large impulses. It's also clear that the coin bounced off the support zone, and in my opinion, it may now be breaking out of the wedge into play. The project itself is very promising and has many applications in cryptocurrency, which could increase buyer interest in purchasing it.
COINBASE at the bottom of the 20month Channel. Will it go lower?Coinbase (COIN) has been trading within a long-term Channel Up since the first week of January 2023 (almost 20 months). Within this time span, it has seen 4 corrections with the latter being the longest as we haven't seen a new High since the week of March 25 2024.
Last Friday saw the week close on the strongest red 1W candle (-20%) since the 2022 Bear Cycle, as it failed to rebound on the 1W MA50 (blue trend-line). This on its own is a very pessimistic development, with the presence of only the 1W MA100 (green trend-line) remaining to offer support long-term.
However, this Friday closing made an exact Higher Low at the bottom of the Channel Up, something we hadn't seen since the June 05 2023 1W candle. That was the candle that completed the longest (until the current one) correction on Coinbase. Both Bearish Legs have similar declines (-47% then and -48% now). The minimum % rise of a Bullish Leg within this Channel Up has been +146.82% (two times).
As a result, as long as we close this week inside the Channel Up and ideally the 1W RSI remains above the 30.00 oversold barrier, we can expect a long-term bullish reversal on COIN with the start of the Channel's new Bullish Leg, with a minimum expectation being at $360.00 (+146.82% rally).
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