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COINBASE GLOBAL INC CED EACH 2 REPR 1COINBASE GLOBAL INC CED EACH 2 REPR 1COINBASE GLOBAL INC CED EACH 2 REPR 1

COINBASE GLOBAL INC CED EACH 2 REPR 1

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COIN trade ideas

Long Coinbase, Short BTC On Sell-The-News TriggerWhen traditional markets sense optimism, crypto markets go straight to the moon. Bitcoin (“BTC”) has been on a tear this year supported by hopes of spot BTC ETF launch, rising regulatory clarity, and monetary policy easing. When BTC sentiment turns bullish, it leads to sharp outperformance in digital asset-linked stocks as noted previously. Coinbase is a top ranking performer. The crypto exchange stock is up a whopping 387% YTD outperforming BTC by almost 2.5x. Outperformance during rallies is usually followed by sharper corrections during downturns. Buy the rumour and sell the news is common. In fact, it is more pronounced in crypto markets. BTC trading at record prices for the year combined with bullish catalysts materializing soon, the risk of drawdown in prices remains high. Digital asset linked stocks are likely to correct alongside BTC. But Coinbase is uniquely positioned to remain resilient. This paper posits a hypothetical trade set up with a long position in Coinbase and short position in BTC to position well into potential pull back in prices in the new year. COINBASE’S “REGULATIONS FIRST” APPROACH HELPS BUT RISKS REMAIN Coinbase adopts the strategy of regulation-focused expansion, giving it an upper hand in the otherwise largely unregulated digital asset industry. That said, Coinbase faces its own raft of regulatory headwinds. In June 2023, the SEC sued Coinbase for operating as an Unregistered Securities Exchange, Broker, and Clearing Agency. Later in August, Coinbase filed a motion to dismiss the case on the basis that the cryptocurrencies listed on Coinbase do not qualify as securities. Coinbase’s staking platform is another concern. Legal outcome remains uncertain. Regulatory overhang persists over Coinbase. COINBASE HAS GAINED MARKET SHARE FROM CRISIS AT OTHER EXCHANGES Coinbase has been holding up well when competing crypto exchanges have suffered collapse or punitive record regulatory fines. Consequently, it has been successful in swaying traders to its platform. News of Coinbase’s approval as a Virtual Asset Services Provider is just one of many global regulatory licenses the company has sought. FTX collapse, regulatory action against Binance, and the shuttering of smaller exchanges like Bittrex has benefited Coinbase. It has gained BTC trading volume market share compared to last year (13.7% in 2023 v/s 5.7% in 2022), although it remains lower than its market share (18.1%) during the 2021 rally. While Coinbase has taken volume share from Binance, both these crypto exchanges have lost share on BTC derivatives trading to CME Group. It is likely that Coinbase would lose out on some of the BTC trading volume to spot ETFs. COINBASE IS THE CUSTODIAN FOR MOST OF THE PROPOSED SPOT BTC ETFs While Coinbase may lose out on some of the trading volumes, it stands to benefit from the increased institutionalization of BTC. The company has positioned itself to benefit from the institutional market as well. Coinbase Custody and Coinbase Prime are two of its offerings that stand to gain from spot ETF approval. In Q3 2023, Coinbase derived 46% of its net revenue from transaction commissions (comprising of 95% from retail and 5% from institutions) and 54% from subscription and services revenue. This is a stark shift from Q3 2022 when 63% of its revenues came from transaction commissions. The shift towards services enables resilient growth from sustainable institutional sources. Stablecoin revenue is the primary driver of services revenue for Coinbase. It has increased by 125% YoY. Stablecoin revenues represents earnings from stablecoin reserves linked to its partnership with Circle (USDC issuer). While stablecoin revenues have driven growth in a high interest rate environment, Coinbase’s custodial revenue has lagged. Custodial income is up 9% YoY but 7% lower QoQ. Spot BTC approval with Coinbase as the custodian will help drive greater revenue resilience. The following ETF’s which are up for approval imminently use Coinbase as their custody provider: Source: Coindesk Important to note that these agreements are not yet finalized and are subject to change. In fact, one of the SEC’s key concerns over approval has been the centralization of custody services with Coinbase. This recently caused Blackrock to amend the role of Coinbase in the proposed iShares Bitcoin Trust ETF. The goal of the amendments is to integrate refinements and improve the likelihood that the application is accepted by the SEC. BITCOIN RALLY HAS OVERREACHED A long position in BTC may be hard to justify given the massive price appreciation through 2023. BTC is up a mammoth 154%. Prices face risk of a sharp drawdown from profit taking. Long-Term BTC holders have been accumulating their holdings all year. Many of these holders are now in profit. Nearly 90% of the total supply of BTC is in profit as per Glassnode. While long-term holders have remained committed all year, realising these gains before a sell-the-news trigger will eventually lead to price pullback. Source: Glassnode THIS TIME, IT IS DIFFERENT FOR COINBASE Coinbase performed poorly during the last Crypto drawdown. Back then, Coinbase was in dire straits. Losses looked precarious. Valuations were still roaring from its heady IPO levels. Now, both these metrics provide a reasonable entry. Coinbase stock is still 50% lower compared to its level in Nov 2021 when BTC prices started collapsing. HYPOTHETICAL TRADE SETUP The hype in the run up to the approval of Spot BTC ETF is palpable. Downside risk prevails across BTC and Coinbase. If buy-the-rumour & sell-the-news plays out, Coinbase is expected to remain resilient (relative to BTC) given larger market share and revenue diversification. Higher institutional income will also help bolster revenues along with increased trading volumes typically experienced during market shocks. Investors can position to benefit from Coinbase’s relative resilience by opting for a long position in its shares hedged by a short position in CME Micro Bitcoin Futures expiring in January (MBTF2024). Each MBT contract provides exposure to 0.1 BTC (~USD 4,278). This requires 25 shares of Coinbase to balance the notional values on both legs. The hypothetical trade set up would involve: • Entry: 0.404% (USD 173.2 divided by USD 42,780) • Target: 0.480% • Stop Loss: 0.365% • Profit at Target: USD 670 • Loss at Stop: USD 467 • Reward/Risk: 1.43x Note: As of close of markets on 26th December 2023; Coinbase shares: USD 173.2 and MBTF2024: USD 42,780 MARKET DATA CME Real-time Market Data helps identify trading set-ups and express market views better. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com DISCLAIMER This case study is for educational purposes only and does not constitute investment recommendations or advice. Nor are they used to promote any specific products, or services. Trading or investment ideas cited here are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management or trading under the market scenarios being discussed. 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NASDAQ:COINLong
by mintdotfinance
41
Coinbase establishing an inverted head and shoulders formationIn June 2023, sellers failed to establish a lower bottom, and buyers took over, pushing the price towards the resistance at $114-116.3, breaking through the previous Lower High (LH) which was in March 2023. In July we got a Higher High (HH) and in October, the market formed a Higher Low (HL), indicated by a new bottom higher than the previous one. The positive trend was confirmed at the end of November when the price broke through the resistance, establishing an inverted head and shoulders formation – a clear indication of a trend reversal. I have added Coinbase to my watchlist and I'm waiting for a possible pullback towards the support level at $114-116.3 or a touch on the trendline, potentially looking for an entry for a long position, possibly in April. It's also worth noting that the BTC halving, which usually triggers bull runs, is expected to occur in May 2024. However, it's important to be aware that this is based on the current protocol, and changes in the network or other factors may affect the timing. I share this information because the Coinbase price has a correlation with the BTC price. Emphasizing the importance of considering both technical and fundamental factors, it is recommended to conduct thorough assessments, analyze trends, as well as support and resistance levels. Additionally, staying attentive to any news or events that may impact price movements is crucial. Do not overlook the necessity of a clear risk management plan and a thoughtful evaluation of portfolio diversification. What do you think about this analysis? I am open to any feedback. :)
NASDAQ:COINLong
by renasjalal
3
Coinbase Wins VASP Crypto Approval in France Ahead of MiCA Coinbase Wins VASP Crypto Approval in France Ahead of MiCA Crypto exchange Coinbase has secured key approval from the French financial market regulator to offer crypto services in France, according to a statement issued on Thursday.   The development paves the way for Coinbase to expand its European services ahead of the Markets in Crypto Assets (MiCA) regime, creating a robust framework for crypto-native companies to offer regulated products and services in the EU bloc. Coinbase Secures VASP Registration in France On December 21, Coinbase announced that the Autorité des marchés financiers (AMF) had granted the company a virtual asset service provider (VASP) approval, a green light to operate in the domestic market. The VASP registration will allow Coinbase to offer users in France a full suite of retail, institutional, and ecosystem products and services. This includes custody of digital assets, buying and selling of digital assets in legal tender, and digital assets trading against other digital assets.
NASDAQ:COINLong
by DEXWireNews
COINBASE-SELL strategy Weekly chartThe short-term view applies as well as the medium-term one. I have been suggesting since some updates to be SELL, which is simply look at the extend of market movements. Market movements are not always logical, and consistent. In the case of COINBASE clearly driven by crypto movements, hence makes the call harder, but overall the picture does. not change for a sharper correction in the near-term. Strategy SELL between $ 160-180 for a move back towards $ 110.00. SL is dependent to the pocket, but am suggesting to place it somewhere @ $ 195.00. Keep leverage or capital employed low please. That way we minimize losses and maximize the profit, which I feel should be placed near $ 118.00 for now.
NASDAQ:COINShort
by peterbokma
3
Coinbase Long-term OutlookAnother day, another ticker updated. Some of y'all might recall, in one of my posts I mentioned being long COIN with the intention of selling around the $200 area. Due to the type of reaction off of the 1.236 fib, it made me think we were about to start our descent for wave (4). I then upped my stop limit to $163 to ensure I captured those profits. We dropped down to $160.07 to stop me out and then started to move higher again. Since then, we have raised with strength, imo, to finish out wave (3). This puts my entire trading strategy out there for y'all to see. Sure, I could have made an extra couple hundred dollars had I stayed in. I also could have lost all those gains I had just made. See, I would rather fear losing money, than suffer from FOMO. Due to this thought process, I pocketed over 19% profit in one week, in one trade. I shouldn't need to mention the effect compound interest will have with this type of success in trades. That being said, I expect this to raise to around the 1.382 @ $190.51. However, we're raising on negative divergence at this time on the hourly. This indicates the move is weakening and most likely coming to an end. Structure has met/almost met all requirements, MACD is dropping on the lower time frames, and we're reaching the "normal" endpoint for an extended move. After we top, I would expect us to drop to around $130-$160 before taking off for wave (5) of ((3)). Notice MACD made a new high? Remember what that means? If not, you might have an opportunity to learn early next year from me. P.S.: Blackstone is working on getting a bitcoin ETF approved. Should this happen, I would expect COIN to go on a tear. Makes one wonder if it will get approved towards the end of this wave (4) coming up. That would definitely give us the strength needed to reach the first target box you see on the screen. Corrective waves can chop for a long time though so I am unsure how long it will take to get there. I would assume we will hit the box sometime in 24'. Bonam Fortunam, --Tyler
NASDAQ:COIN
by TSuth
2
Coinbase to $118 before facing selling pressureCoinbase is working on a weekly close that would be the highest of the past 13 weeks. Additionally, it has broken out above the weekly Cloud for the first time in it's history. Once the Chikou Span is in 'open space', it will confirm an Ideal Bullish Ichimoku Breakout. NASDAQ:COIN 's periodicity suggests that the next price and time levels to watch are the last week fo December 2023 near the $118 value area where the 100% Fib. extension and the top of the Volume Profile currently exist. However, because the volume profile is almost non-existant above $120, there is a high probability that NASDAQ:COIN could just shoot above in an insane rally.
NASDAQ:COINLong
by itsjustanalysis
7
Coinbase Expands in Europe with French VASP LicenseFundamental Analysis Coinbase expands to France with VASP license, seizing opportunities in a thriving crypto-friendly market amid U.S. regulatory challenges. Coinbase, a cryptocurrency exchange, has marked a European expansion by securing a virtual asset service provider (VASP) license in France. This development, confirmed by a company spokesperson, signals a major stride for Coinbase in extending its services in the European market. France’s AMF watchdog, recognizing the potential of digital currencies, has effectively given Coinbase the green light to operate its array of crypto services within the country. Coinbase European Expansion Amid U.S. Regulatory Challenges Amidst increasing regulatory pressures in the United States, Coinbase’s move into France represents a strategic shift in focus. The U.S. Securities and Exchange Commission (SEC) has been notably stringent with cryptocurrency firms, leading to heightened tensions. Coinbase, facing allegations from the SEC of engaging in illegal securities dealings, has countered these claims, advocating for clearer crypto-specific regulations in the U.S. Coinbase’s European venture came when the U.S. Department of Justice took stern measures against crypto giants like Binance, resulting in substantial settlements and leadership changes. This contrast in regulatory environments underscores Coinbase’s decision to deepen its presence in Europe. France as a Tech and Crypto Hub Coinbase’s French expansion aligns with President Emmanuel Macron’s vision to transform France into a global technology hub. Under the “France 2030” initiative, the French government has allocated 34 billion euros in investments over five years. This investment bolsters France’s position in cutting-edge technologies, including artificial intelligence, cloud computing, and blockchain. The country’s progressive stance on technology and digital assets has attracted several crypto firms, including Circle, Binance, and Crypto.com, which have established their European bases in Paris. The presence of major players like Ledger, a crypto custody service provider, further solidifies France’s burgeoning role in the crypto landscape. Rising Crypto Adoption in France Despite recent market downturns and industry challenges, France has witnessed a steady increase in cryptocurrency adoption. According to Toluna, a data firm, around 10% of French adults currently own crypto assets, and 24% plan to engage in crypto transactions within the next year. Therefore, Coinbase’s entry into the French market with the VASP license comes at an opportune moment. This move enhances the company’s European presence and taps into French consumers’ growing interest and adoption of digital assets. Technical Analysis NASDAQ:COIN stock is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. In case of a negative reaction, the stock has support at approximately 110 dollar. Positive volume balance shows that volume is higher on days with rising prices than days with falling prices. This indicates increasing optimism among investors. The stock has strong positive momentum and further increase is indicated. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards.
NASDAQ:COINLong
by DEXWireNews
Coin iS TinklingHi friends, Sharing weekly chart of Coinbase global. So as you can see that i identified an Ascending Triangle breakout pattern in it on weekly chart and below i am sharing some insight and key factors about this breakout which i analyzed on provided chart, hope you like my presentation and give your valuable support to my publication mates. So as we can see above on provided chart that price breached recent swing top and close above and it is highest clsoing after 17-18 months by the price too so i assume that we can see some bullish moves in this counter in coming weeks Guys. Analysis points- You can see that before this breakout price started making higher lows and gradually moved out towards breakout zone and made a higher high pattern too by recent two swing tops, before this higher low formation when price was in lower lows trend i observed that Rsi making higher highs formations so we can say that it was bullish divergence too by rsi at that time and we can say that price just started the resumption of uptrend from there. Targets- Target i identified for this long trade by two ways, one is very simple i am taking resistance target and for the second i meausered height of Triangle from swing top to swing bottom and find out amazingly that both targets indicating almost the target zone, so taken target zone seems very logical for me friends. Breakout Retest Levels- 105 This publication is meant for only learning purpose, it is not any kind of trading advice. Best Regards- Amit “If you can learn to create a state of mind that is not affected by the market’s behaviour, the struggle will cease to exist.” -Mark"Douglas
NASDAQ:COINLong
by AMIT-RAJAN
31
$COIN - Overbought but ride has just started. Going to try to keep my thoughts simple. With alot of momentum growing in the crypto world it makes perfect sense to see NASDAQ:COIN get its latest pump, especially with BTC hitting 40k+. It is with no question that NASDAQ:COIN is in a overbought scenario as the RSI shows us. We closed today with a spike of above average red volume, leading to an indecision range day after a $10+ overnight gap. Long term, i see NASDAQ:COIN hitting $200 easily. (Inverted H/S, Break of neckline) Are the confirmations that show us our bias. Short term, due to the gap up and clear overbought scenario on the daily.. i want to see a pullback to the 9 daily ema. I dont predict the pull back to be extreme.. buyers are relentless and any significant dip can be expected to be bought. Use proper risk management and enjoy the ride to $200 going into 2024. Cheers.
NASDAQ:COINLong
by ThornhillHQ
1
CoinHad a very nice breakout which saw a good rejection off 155 area We just broke down from a symetrical triangle which could have contiued this trend to 160 but failed for now. I’m still bullish coin but Mabey we need to come Back in and retest that pattern we just broke out from. I’m in shorts on coin looking for a retest of either 144 or 140. Curently the symtrical trinagle we broke down from around 152 NASDAQ:Z … has a target of 146.40 for today tarhet only. This curent pattern is a smaller symtrical triangle ranging from 148-150 $ Not sure which way it’ll break yet, but I’m thinking downside to contiue to 146-144 at least. But if we break 150 and reclaim this might stop me out of my bearish trade Hopefully the patterns I have drawn makes sence
NASDAQ:COINShort
by Erictaylor
📊 Coinbase Bearish (70-80 Next Target)Coinbase (COIN) produced a nice bullish wave which peaked 5-Dec. with a DragonFly Doji. In July a bullish wave ending in a Doji preceded a correction, here we have a similar situation. Based on the gaps, it seems it will be a strong correction. 👉 A 40% drop can happen easily pushing the stock to 100. 👉 It can go lower as a test of MA200 as support and hit 77, can be a bit higher or a bit lower. There is room for even lower... You can find additional details on the chart. Namaste.
NASDAQ:COINShort
by AlanSantana
3
CoinHanging on here to support. Last time I shorted it was for coin to test the uptrending support at 132. We did that and eventually got a push up and another rejection of 146.50 We are now retest the breakout from last week from 138 being a bigger reistance We need to contiue to hold and reclaim This as well as hold this uptrending support. As long as we can hold this should Be a decent loading area,, if we crack 138 and flip to resistance we might be needing to looking into shorts again Overall above 138 bullish Below 137.50 or so bearish I’m in longs holding this bottom trend support even if it takes a few days to complete. Good luck to all!
NASDAQ:COIN
by Erictaylor
1