COIN : Don't BuyDeclining Revenue
Declining Net Income
Declining EPS
Negative EPS
Increasing Shares Outstanding
COIN trade ideas
$COIN SEC’s New TargetAfter its stock plummeted almost 20%, Coinbase Global, Inc. (NASDAQ: COIN) faces losing more than 30% of its revenue due to the SEC’s lawsuit. With that said, COIN stock and the crypto market may be set to rebound thanks to the newly introduced draft bill in Congress that would add much-needed clarity to the crypto market. As Cathie Woof has been adding shares of COIN despite the current uncertainty, COIN stock may prove to be a profitable buy at this dip.
COIN Fundamentals
SEC Lawsuit
U.S. regulators are starting to go after more crypto companies after the biggest target, FTX, collapsed back in 2022. The SEC is claiming that COIN and Binance are trading unregistered securities in their alt-coins (non-Bitcoin or Ethereum tokens), while COIN claims that these coins shouldn’t be treated as securities.
In the event that alt-coins are treated as securities and require registration, COIN may lose up to 30% of its revenues since the process of registering securities can be cumbersome and has a risk of the application being denied. While COIN seems to be in a better position than Binance, it is still in danger of losing a lot if the SEC wins since COIN will lose a big chunk of its revenues and its stock may further plummet. Following the lawsuit announcement, COIN stock dipped more than 20%, with Bitcoin also sliding 5% before erasing almost all of its decline.
After COIN stock went down almost 20%, it has since recovered by almost 10% with Bitcoin also recovering by almost 4%. Furthermore, Cathie Wood snapped up more than 400 thousand shares after the dip across three actively managed ETFs – with ARK Fintech Innovation ETF making COIN its third-largest holding with a weighting of 5.35%.
New Government Regulations
Earlier this month, Congress introduced a new draft bill regarding crypto trading. The new draft bill proposes that cryptocurrencies offered as part of an investment contract would fall under SEC oversight, while those that qualify as commodities would be overseen by the Commodity Futures Trading Commission (CFTC).
With cryptocurrencies like Bitcoin and Ethereum, Binance’s BNB definition as securities or commodities would depend on how decentralized their underlying blockchain is, as decided by an SEC ruling. If the SEC lawsuit is an indication of what it sees as a security and what it sees as a commodity, it seems like both Bitcoin and Ethereum would be safe since the SEC excluded them from the lawsuit against COIN.
Following in the SEC’s footsteps, the UK’s financial regulator has introduced new regulations regarding crypto trading. With the new regulations, crypto trading companies will need to introduce a cooling-off period for first-time investors starting October 8, 2023, and it will also ban “refer a friend” bonuses to ensure those who buy crypto understand the risk.
With so much uncertainty in the cryptocurrency market, the Binance and COIN lawsuits, combined with the newly introduced draft bill, may provide much-needed clarity to crypto trading which will benefit the whole industry in the long term.
COIN Financials
In its Q1 2023 report, COIN’s assets increased 56% QoQ from $89 million to $139 million, and its cash and cash equivalents increased 13% QoQ from $4.4 million to $5 million. COIN’s total liabilities increased by 62% QoQ from $80 million to $130 million.
Revenue decreased 36% YoY from $1,164 million to $736 million. Operating costs decreased almost 48% from $1,720 million to $896 million resulting in operating loss decreasing 77% YoY from $554 million to $123 million which amounted to a net loss of $79 million – an 81% decrease YoY.
Technical Analysis
COIN stock’s trend is neutral with the stock trading in a sideways channel between $56.8 and $63.26 which has been broken following the SEC’s lawsuit against the company. Looking at the indicators, the stock is trading below the 200, 50, and 21 MAs which are bearish indications. Meanwhile, the RSI is neutral at 40 and the MACD recently turned bullish.
As for the fundamentals, COIN stock just witnessed a catalyst in the SEC lawsuit against it. The result of both the SEC lawsuit and the new crypto bill will be important future catalysts for COIN. Given that the stock is trading near support and is yet to retest the lower trendline, the current PPS could be a good entry point in COIN stock.
COIN Forecast
With the SEC lawsuit against COIN, the crypto trading company is at risk of losing more than 30% of its revenue. The SEC lawsuit, while bad for COIN, may provide more clarity about the crypto market, which can be good in the long term for the crypto industry. Furthermore, the new Congress draft bill can prevent more lawsuits of this kind from happening in the future since it will introduce clear regulations regarding cryptocurrencies and crypto trading companies. The crypto market is currently in disarray, but Ark Invest’s addition of new COIN shares after the lawsuit indicates that COIN stock may still be worth keeping an eye on.
💾 Coinbase Bottom Signal? Recovery Likely NextYesterday's session, 6-June, we can see the highest buy volume since May 2022 on the COIN stock. At the same time, this is happening within a long-term (1 year+ higher low).
The only day that showed a higher purchase volume was 12-May 2022 and what followed was a wave equaling 185% growth.
This is a strong combination of signals and we can expect a recovery as long as this long-term support level and higher low holds.
Namaste.
Coinbase in trouble over "SECURITY RISK"Coinbase will lose some major support in 4Q 2022.
Coinbase threatens lawsuits over price glitches.
Coinbase freezes accounts and has bank accounts frozen to get the money back from traders
that they rightfully earned through the buy and sell agreement when a transaction completes.
Coinbase responsibility is to maintain accurate information and connectivity for its users.
Is you money really safe when they don't respond to users concerns over there glitches.
Coinbase is playing a dangerous game with their users.
If coinbase can get there money back using aggressive means that violates a users personnal finacial security
then the users trading should be able to get
their money back when the coinbase exchange and app does not work properly and losses are incurred.
Allowing coinbase to continue these aggresive violations of its users will many to leave the platform.
I think major litigation will be going on very soon and coinbase will lose confidence from many of its traders.
I know for a fact that in the past i had connectivity issues that prevented me from selling that would of generated
atleast 100k in gains extra over the past two years.
Several trades were reversed stated an issue that was never properly explained and they close the case Immediately.
Coinbase basically states that it won't accept liability over any issue that you have during trading.
Coinbase basically says any issue that causes them to lose money from your trades and they will seize it back from you.
Now does this violates your own person financial security?
They accept no liability when its your money.
If you earn it through a buy and sell order then it is a legal transaction.
the liability is the exchange not the users trading.
Moving my funds out of coinbase "Security Risk"Transferring my funds from coinbase!!!
They just lost my support on there balance sheets. Roughly a million dollars
i am transferring out for my own personnal security.
My money is spread out between dozens of accounts and exchanges to manage risk.
You never know what could happen.
Manage your finances carefully.
Issues going on with crypto exchanges could push traders away from there exchange
and stock options.
Coin Base I think I am bullish With what is going in currently in the market place I am looking at the market going bullish on coin base. I would like to see this play out.
I am very interested in this price action as I have seen there is a large number of investors that have money on the exchange but also is a gateway to get to the buying and selling of crypto so with that being said I see that the market is about to get interesting but would like to know your thoughts comment below but for sure I am bullish for the month once we have retested the low I highlighted.
What do you think?
$COIN Bull Flag Weekly ChartNASDAQ:COIN Bull Flag Weekly Chart, bottoming pattern. News today on #coinbase was bullish and the stock was up today. #bitcoin had a great today as well up over 5%
Coinbase ready to launch . Buy the bad news I think we have a great setup here with price of 50 and target of 265 as we are approaching crypto bull run.
Coinbased poised for short as SEC attacks BinanceWith Binance being sued by the SEC for several violations and the SEC declaring 10 main cryptocurrencies as securities the sector is poised to suffer considerably. CRYPTOCAP:BTC is already down by 6% on this news and the situation is going to worsen in the coming days. The political landscape in Washington wants crypto gone. Whether this will succeed or not, it is meant to push all prices down for a considerable period of time. NASDAQ:COIN is not going to be in a good place as it is involved with most of the tokens below that are now all in trouble.
Alleged securities:
CRYPTOCAP:SOL
CRYPTOCAP:ADA
CRYPTOCAP:MATIC
TSX:FIL
NASDAQ:ATOM
NYSE:SAND
EURONEXT:MANA
EURONEXT:ALGO
NYSE:AXS
ECONOMICS:COTI
whatthefinance.com
RectangleNeutral pattern until cleanly broken.
Short entry is a clean break of the bottom line with a confirmed downtrend.
Price is below the support line but some look for 2 closes below the line for confirmation.
Once the bottom line or the support line is broken it becomes resistance.
Volatile stock as a rule.
No recommendation.
Life is choices.
Short interest is over 20%
52 Week Range
31.55
116.30
Day Range
46.43
52.38
EPS (FWD)
-2.81
PE
-
Div Rate (TTM)
-
Yield (TTM)
-
Short Interest
20.30%
Market Cap
$15.14B
Volume
50,212,062
Coin 6.6.23Moving in its same trash range as expected. Should have bought MSTR or Btc like I Said. Can't believe ppl actually argue over this and have emotional attachment. The chart speaks for itself.
$COIN Sell the Rumor buy the newsNASDAQ:COIN Sell the Rumor buy the news. Double bottom pierced. Chart still looks bearish with all of the moving averages above the stock price.
COIN going to try reach trendlineCOIN is breaking out of small consolidation. Its still in larger triangle. I am making small position for target around 72. If it breaks out of larger falling trendline, it can give nice move.
$COIN - Looking bullishNASDAQ:COIN looking good. Its been hugging on to the fib support and starting to move. Its above all moving averages and golden cross is in the cards. Targets - $70, $84, $110. Downside risk is $50. 💥🚀💰
potential long setup Over the weekend crypto made a solid move to the upside. ill know be looking for Coinbase to follow suite. Price gapped up this morning and is currently trading sideways on the LTF. Normally id be looking for a pullback at market open before taking an entry but the opportunity may not present itself.
Im looking at the $59 and $60 calls expiring 6/2/23
Price target: $65.00
Very bullish on coinIt’s breaking out IMO as we speak
Stochastic rsi has flipped as well
I see confluences for a move to 200$
Lagging behind nasdaq and undervalued imo
COIN Half LifeCOIN has been stuck in a downward channel since it's IPO loosing 90% of it's value. However in that time there have been 3 BUY opportunities returning +50%, +50% and +100% respectively... and they all seem to appear at key levels based on 50% downward movements.
Are we going to see some similar action moving forward ? so $30 and $20 levels might be key to watch.
COIN TRADEI believe Coinbase inc. has very good potential of growing to my TP, this is a long term trade as the main reason it is down is because its link to the cryptocurrency market and not because of the actual company itself. If we see the company it has very good numbers, they are trying to be firm on the regulatory side. I believe as US company it has good potential to keep growing.
$COIN Short NASDAQ:COIN
I like the Idea of Shorting Coin.
Nothing to complicated guys and girls.
$55 short to a Target Fib Level of $52.84.
- Friday close was bearish with huge selling volumes end of day
- Stochastic RSI is forming an indicative pull back move
- RSI 14 Day Average shows trend breakdown with low buying resistance and higher selling resistance picking up
- AD / DX turning bearish with red bearish line resembling confluence/diversion to a bearish move up of the red line.
- Trading below 20/50/100 SMA already
Trade Idea with Options Derivatives is Puts, ideally in the money $55 and to $50, this is the trade for this week 22nd May 2023.
For confirmation must watch NASDAQ / Tech 100 and Bitcoin for confirmation.
I would be also watching for weakness in Crypto mining stocks, there was plenty of covered call selling on NASDAQ:MARA $9 for many weeks and it seems that buyers are exhausted. A break of $9 should see a move down to $8.50.
KalaGhazi | Coinbase ConsolidationThey're in a brutal battle with the SEC over whether cryptos are securities. He expects fireworks. A nightmare.
Coin update So we discussed the possibility of a W pattern formed on that 57$ retest. As of now we got it ! One thing to watch closely thou is this 60$-60.40 level.
Although this idea I have is potentially a nasty breakout trade, we do have to be carful Becuase we have 2 lower highs in place and a flat bottom at 57$
So technically this can be a bearish pattern. If we break and hold above 60,50 as support this can rip up
The previous high of this pattern is also a reistance to watch
I am in king at 57$ as we discussed taking it… but I am going to add some shorts in at 60$ area as a hedge against my long calls…. If coin rejects and fails and comes back towards 57 this could breakdown so we are at out of the woods yet!!!
It is super interesting that it is sooo simalr to the C3 ai chart almost identical and if you look and see what C3 ai did after this smal exact setup we can see what coin can do also. Howver just Becuase it looks the same doesn’t mean it has to react the same way. Just keep in mind 60.40-35 will be a big level as well as 61.35. If we break and hold 61.35 this could be setting up as a neckline of the W pattern we are all playing off 57$.
Good luck I hope we all win big but I am right now being cautious
So I’m staying neutral as we reach 60.35 and 61.35
COIN at cluster support, will history repeat?😜huge bounce last time we had this setup where coin was at trend support/critical support area, so the question is will history repeat?
it usually does in these markets, watching for rally to 59-67-85
last chart from me today, see you again soon with more! :)
