Coinbase position follow upOur trade idea went very well. May take some profits and leave the rest till my TP level
COIN trade ideas
$COIN going higher?? Or nose dive? (According to #fintwit)Friday the 14th was an insane day for $COIN. I ended loosing $800 after being up $2.3k in the first 15 min at the open and then lost all of it throughout the day trying to get back in.. :(
However! I am currently long holding over the weekend (EXTREMELY RISKY) because the chances of NASDAQ:COIN opening up at or near the same price it closed on Friday is LOW. I think it opens higher, let me tell you why.
You're looking at the 15 min chart. As you can see, Friday morning had an INSANE amount of buying and then it was rejected at the $114.30. It took all day to digest those gains until the 14:00 15 min candle, where we get a reversal. The volume that follows is bullish and rivals the selling that took place throughout the day, so buyers defended the the $104 level.
Is there a chance NASDAQ:COIN opens up below $100 and I eat my words and cry? Yeah probably, and I'm prepared for that. Nothing in the stock market is certain and nothing is owed to you. Stay humble or be humbled..
Let me know what you think about this and my latest posts. Feedback is always welcome. It's okay to be wrong but it's not ok to stay wrong.
Coinbase thesis _ the next gamestopCoinbase thesis.
Super long
Key points
-Seen as top tier trust option of all exchanges.
-Only one listed on US stock market
-pic and shovel biz model of crypto
-matching gains & volatility
Pros
Price action linked to btc
Protection from wild West nature of crypto
Safe haven for large investors
Set up .
Coinbase massively down since ipo.
Target 12 months
-400's. ++
Key points over time .
Dominoes that have fallen..
-Ftx goes down. (Mjr competitor)
-Voyager goes down.
-Black Rock jumps in
-5 potential spot etf applications using coinbase.
-Sec ruling xrp
....and the rest is history
This can be another GME.
It's authentically undervalued.
Enjoy.🙏
Rectangle/OVERBOUGHTPrice has broken up from the rectangle.
Bad candle today but as of late any candle or candles need confirmation.
The psychology of a shooting star can be the bull's had price at the top of that upper wick but the bears won and brought price back down. This occurred at a resistance level which can make it more important.
This candle can change by close.
Overbought.
T1 and T2 met.
No recommendation
COIN earnings 8/3/23COIN earnings are on Tuesday, August 3rd, 2023, at 4:10pm. Coinbase Global Inc (COIN) reported Q1 March 2023 earnings of 0.15 per share on revenue of 772.5 million. The consensus estimate was a loss of $1.44 per share on revenue of 0.2 million. Revenue fell 33.8% compared to the same quarter a year ago. Today's pop was because a judge in the Southern District of New York ruled that XRP is "not necessarily a security on its face". I'm posting this as a short because of the setup entry point going into COIN earnings on 8/3/23. Technically, the time to go long has already happened more or less, until there's a significant pullback to a support level. With that said, COIN probably has momentum for a few more days, so I wouldn't go short immediately.
Q2 June 2023 Consensus:
EPS = -0.76
Revenue = 636M
PE = -8.43
100SMA = 63
200SMA = 69
COIN 1 day chart TTCATR 20VWMA levels:
R3 = 115
R2 = 106
R1 = 98
pivot = 91
S1 = 82
S2 = 74
S3 = 65
Options data:
7/21 expiry
Put Volume Total 86,815
Call Volume Total 123,681
Put/Call Volume Ratio 0.70
Put Open Interest Total 112,134
Call Open Interest Total 88,154
Put/Call Open Interest Ratio 1.27
8/18 expiry
Put Volume Total 28,581
Call Volume Total 26,454
Put/Call Volume Ratio 1.08
Put Open Interest Total 58,067
Call Open Interest Total 55,295
Put/Call Open Interest Ratio 1.05
9/15 expiry
Put Volume Total 9,965
Call Volume Total 14,061
Put/Call Volume Ratio 0.71
Put Open Interest Total 60,706
Call Open Interest Total 40,379
Put/Call Open Interest Ratio 1.50
Coinbase(COIN) Recovered Before sued by the SEC
4H
- Touch the Long-term downtrend line (thick line)
It's a strong resistance, so even if it comes down a little, I think it will get support near the blue box and try to break through the long-term downtrend line again.
1D
- It seems to have a reverse head and shoulder pattern.
COIN - Video Deep Dive 🤿Deep dive on COIN.
This stock could be a MAJOR winner if markets are in accumulation.
Enjoy 👍🏻.
Not advice.
COIN - I don't want to be a short here
It held the SEC investigation news very well into the demand. If it continues to build above 50 zone, either the next capitulation move or a news is going to push this back to 80-90.
I'd be careful to short this unless 48 is taken out. Until then might be choppy, which would be a great sign for bulls.
My personal thesis is that they are going to come out on top through this bear cycle and dominate to crypto market over next decade.
Disclaimer: No position yet.
$COIN - possibly the point where the SEC reign of terror ends? what do you think?
is this the point where the harassment ends?
Coin bearish butterfly.Harmonics are all over the market, which probably denotes we're at critical inflection points. Bulls are close to making a legit break or we're deep into the end of a bull trap.
Given the parabolic nature of moves into resistance (As opposed to grinding up in a sustainable zigzag trend) I favour the fade.
Into the PRZ on this one.
💾 Coinbase Targets Based on Gaps & Fibs (175 Minimum)"And the rest shall be history"...
The bullish breakout has been confirmed and today we would like to look at the charts for the COIN stock.
The volume is great, the indicators, price action and signals are all great, this is already confirmed.
✔️ Based on the Fibonacci extension tool the next target sits at 168, this comes very close to the closest gap at 174/176; so this is a high probability target.
It can go higher but this is what we have now based on the current chart and price action.
New updates will go out for new targets.
Thank you for reading.
Namaste.
INVERSE HEAD SHOULDER $COINCoin to ~$100
Inverse head and shoulder pattern in addition to bullish divergence. Should see some action soon.
$COIN back to $60ish and then $100+?NASDAQ:COIN looks like it's forming a rejection candle right at resistance. If you look at the structure, we broke out of a bottom formation and I think we're likely retesting the structure before a continuation higher.
What makes most sense to me is to retest the $60ish area as support and then continue onwards to $100+.
In order to do that, price would need to finally break above $76. But with 3 rejections already, I'd imagine the next time it gets up there, resistance will break.
Let's see if it plays out.
COIN leading indicator of the crypto market? Some nice momentum from COIN, breaking long term diagonal resistance and now challenging local horizontal resistance line near breaking out of a ascending triangle pattern.
Looks juicy, still to see the daily to 3 day candle close above this local resistance and form support.
BTCUSD Cryptocurrencies Crypto ethusd
COINBASE is testing for strong pressureCOINBASE is testing for strong pressure
This chart shows the weekly candle chart of Coinbase stocks over the past two years. The figure overlays the high points of November 2021 and the golden section below them. As shown in the figure, the low points of Coinbase in May 2022 and January 2023 are both supported by the 2.382 level of the golden section in the figure. The double bottom pattern has been formed, and the future is likely to rebound strongly upwards! The strong pressure above is at the 1.618 position of the golden section in the graph, and the recent long short split is at its highest point this week, also at the 2.000 position of the golden section in the graph!
Coinbase - The Moonboy GuillotineFrankly speaking, Coinbase is a stock you actually want to keep a careful eye on, because as the US/International regimes fully integrate digital currency, Coinbase is quite likely to be a key organ of the network.
But for now, this thing is worth $14 billion still and at a time that the crypto market is doing really poorly, Binance and Tether are ticking timebombs waiting to go full Mt. Gox, and banks are about to establish real crypto exchanges.
The current breed of digital currencies, including Bitcoin and Ethereum, are things that have been corrupted by Chinese Communist Party entities.
All the way from the mining cartels to the communities to the Ethereum foundation, there are links to mainland China every step of the way.
And this is something you should really be worried about when the new International Rules Based Order policy is about "de-risking" from China.
And moreover, China has a lot of problems from the pandemic, the coming possibility that Xi Jinping will coup d'etat the CCP in the middle of the US night one day soon, and the looming persecution of Falun Gong since 1999 by the Jiang Zemin faction.
The timing is a little off to go long, but since you're being told it's time for $100,000, if you believe it, then I suppose you've consented to losing your money.
Right now I have calls on Bitcoin for $33,000 to $35,000:
Bitcoin - Balance Amidst FUD
And Ethereum for a $2,130~ double top:
Ethereum - Prepare For The $2,150 Double Top
In my opinion, with the chart set up and pattern, the Coinbase market maker is not going to create higher prices.
The target is below the December low.
Numbers like $15 or $18 are what the low will look like ultimately.
And so right now if you're long on this I recommend you sell on a breakout of this April-July trendline around $69.
If you don't sell your shares now I really do believe these prices won't be seen again for at least 2 years.
I do not believe price will break $72 because the market maker is actually short.
For now, the trade gives a scalp opportunity to go from $61 to $69 as well.
The target is the very bottom. And then a new new bottom of the new bottom.
Afterwards, perhaps Coinbase will rise again.
COIN rises with cryptocurrency resurgence. Can it continue?COIN popped today with vigor as traders seem to recognize the resurgence of crypto.
On the chart, the pop has adequate volatility and high relative volume. The RSI indicator
shows RSI crossed over 50 the prior day and is now nearly at 100. The question arises, can
COIN continue or will it consolidate or reverse? Please comment with your opinion.
COIN H&S Breakout ContinuesCoinbase continues to gain after breaking up and out of the neckline of an inverse head and shoulders pattern, price is up +10% today - trade was initiated last week upon seeing the inverse head and shoulders breakout.
Due to the pop in price today I've raised my stop-loss level to $85.75 in case price reverses on profit taking. This stop level ensures that I exit the trade with a gain if price reverses, while at the same time leaves some room for volatility if price begins to fluctuate.
Lower PPO and TDI indicators are still reading bullish, but the green RSI line of the TDI indicator is now above the 80 level which is considered overbought meaning a correction to the downside can be expected.
Buy Price: $79.21
Stop-Loss: $85.75
Take Profit: $136-ish
Gain if I get stopped out at $85.75: +8.2%
Gain if price reaches take-profit level: +71%
This stop level will remain adaptive to price movement, price has gained another 3% in the few minutes it took me to write this and COIN is now up +13% on the day.
COIN IS LOOKING RED HOT!If it can close a 4 hr candle above 85.65 resistance this is going to fly to 95+ $NASDAQ:COIN. You can see COIN is pushing up now 3rd time is a charm. AlsI have also noticed that if you set your pitchforks in the right place there is usually big ole FVG between the upper and lower 0.25 and the red median lines. Price tends to move quickly through this area on the pitchfork. Plus you have news catalysts like Black Rock announcing they are using Coinbase services to support their ETF.
💾 Coinbase Bullish Long-Term ConfirmedWe have bullish confirmation on the Coinbase (COIN) chart, coming in the form of a weekly session close above EMA10 and EMA21, this happened last week.
This week we get a full green candle above these two levels confirming the bullish bias. After months of volume dropping, it is starting to go up.
The RSI moved past 55, only EMA50 (74.63) remains as resistance. Above this level, the path is clear to 150 or more.
Namaste.
COINBASE resting before the next pop (Daily)Ever since we have left Wave 2 we have been on full out lift off mode from $46 TO $78.30 after close today in about almost a MONTH.... The Wave 3 target is around $117-136 range. We need to break above these blue resistance lines I have in the chart. We should know if this truly is a wave 3 or just a C wave fool's rally depending on this resistance level in the coming days.
