COIN 1H Long Trade1H Long
COIN reached an expected demand zone assumed from a previous minor low and shifted pitchfork momentum. Stop loss set below support. 4:1 upside ratio.
Let's see how this plays out.
COIND trade ideas
COINBASE updated levels (Nomad News?)
This is an update to my Coinbase Idea from July 26, linked below.
I've mapped couple new levels but my overall plan hasn't changed, waiting for Earnings on August 9th.
Coinbase flying today, only reason I can think of is the $200mil Nomad exploit.
Price is hesitating to break above the Golden Pocket of fibs taken from July 20th. A lower timeframe will help in identifying an entry if the price breaks above GP.
Price breaks above GP (with a confirmation)
Target #1: 71.65
Target #2: 76.90
Price gets rejected by GP
Target: 63.5 this is a tested level, Short trade will require some vigilant TP adjustments.
If you've got an eye on some interesting charts, please let me know, I'd be happy to take a look.
This is my Thesis, targets are purely hypothetical based on my analysis.
This is NOT Investment and/or Trading Advice.
Happy Trades!
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COIN earnings on 8/9 @ 4:10pmCOIN earnings are on 8/9 @ 4:10pm. Coinbase is jumping today after the crypto exchange announced a partnership with BlackRock that will allow its institutional clients to buy bitcoin. Services in the company's Prime offering will be available to clients of BlackRock's portfolio management platform for institutional investors. BlackRock is the largest asset manager in the world with more than $8 trillion under management. My target is +$120 by next week Tuesday 8/9.
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7pt Trading compass:
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BlackRock’s crypto deal helps COIN shares ahead of Q2 results Coinbase's shares breached a nine-week high and peaked at $101.18 in the first week of August following the announcement of its partnership with the world's largest asset manager, BlackRock.
Shares of the cryptocurrency exchange platform operator had been on the rise and reached the nine-week high of $80.81 when the market closed Aug. 3. The following day, it rose further after the partnership was made public and closed the week at $93.05.
Starting a new trading week yesterday, COIN climbed another 5.4% and has now settled at $98.02.
Private equity-crypto fusion
On Aug. 4, Coinbase and BlackRock said they are teaming up to deliver direct cryptocurrency access to institutional clients of Aladdin, the private equity giant's end-to-end investment platform. The collaboration makes use of Coinbase Prime to provide Aladdin clients with crypto trading, custody, prime brokerage and reporting capabilities.
Industry participants believe it could set a precedent for other investors and alter how they look at crypto economy, Blockworks.co reported. They added that it is an indication that institutions are looking beyond the current widespread volatility.
Bullish on Q2 figures
The spike in Coinbase's shares was also attributed to analysts' forecast of better-than-expected results for Coinbase's second quarter performance, Cryptoslate reported. Considering, however, that Wall Street's expectations is a year-over-year decline in earnings.
Since the beginning of 2022, bitcoin has lost more than 50% of its value because of tighter global financial conditions. This dragged Coinbase's shares more than 60% since January, Quartz reported.
The BlackRock collaboration couldn't have come at a better time for Coinbase. However, for short sellers betting against Coinbase, the latest development might have been an unwelcome surprise as it prompted them to close their positions by buying shares, which pushed the prices even higher in what was known as a short-squeeze, The Wall Street Journal reported.
World’s largest asset manager
BlackRock had $8.487 trillion in assets under management as of June 30 and being the world's largest asset manager, any investment move it makes hardly goes unnoticed. Coinbase, with a more traditional client base, could definitely benefit from BlackRock's vote of confidence and the additional exposure to Aladdin's more than 200 institutional users, including insurers, pensions, corporations, banks, and asset managers.
For BlackRock, the partnership is the latest step into its digital-assets ecosystem journey, which seemed unlikely five years ago when its chairman, Larry Fink, called bitcoin an "index of money laundering," Forbes reported. Joseph Chalom, global head of strategic ecosystem partnerships at BlackRock, said "this connectivity with Aladdin will allow clients to manage their bitcoin exposures directly in their existing portfolio management and trading workflows for a whole-portfolio view of risk across asset classes."
Furthermore, according to Quartz, the deal is a way for BlackRock to dip into crypto markets with little effort and risk. It noted that working with Coinbase will allow the asset manager to abandon the project if clients lose interest, or regulators crack down on crypto trading, which is something it cannot do if it opted to build its own crypto capability.
Coinbase is slated to announce its second-quarter results after market close on Aug. 9. During its first-quarter results announcement in May, the company wasn't very bullish of its prospects for the April-June quarter with expectations of quarter-over-quarter drops in monthly transacting users, total trading volume and subscription and services revenue. Back then, it also kept its full-year 2022 guidance and reaffirmed commitment to a significant, yet prudent, investment in the future of crypto.
COIN AnalysisPrice is on a high timeframe downtrend. Price has mitigated the bearish POI at 111.80 on 4 August 2022, and has pushed strongly to the downside. It is important to take note that we have earnings on 10 August 2022. Based on the chart, I'm expecting price to retrace to the downside, at least into the bullish POI at 79.00. If bear momentum is strong, we can see price taking out sell-side liquidity and target the lows at 40.83.
COIN moment of truth COIN managed a nice pop on its somewhat odd news if a partnership with Blackrock. But let’s be honest, if it doesn’t gain earnings momentum and take the overhead resistance it will find itself back below $80 in a hurry. Lots of overhead supply and weakening fundamentals are a dangerous combination in this market.
COINbase Long Bitcoin future as commodity Expecting a pull back towards $88-89 as Day pivot 3-Buy retest and form a 30F pivot zone.
Then a spike towards $111 is looking ahead.
Bitcoin and Ethereum as commodity era is coming.
Coinbase with a massive pump. Will it last?The first sign that Coinbase was bottoming was that it dropped 90%. Very few stocks fall so much without bouncing at some point. The second was Fred Ehrsam, its co-founder who now runs Pm, a venture fund, bought 75m USD worth of shares with an average price of 70$. Whenever a founder is getting in after a crash, especially one running a venture fund, it's time to pay attention. www.coindesk.com
Then despite Bitcoin and Ethereum making new lows in June, COIN didn't follow. Despite all the blowups in the space, Coinbase wasn't affected, and its business model remained healthy. The price then failed to make new lows when negative news about negative earnings, firing employees, insider trading, and nine tokens trading on its platform being declared securities led ARKK, which also prompted Cathie Wood & ARKK to dump their 1.4m worth of Coinbase shares. www.forbes.com markets.businessinsider.com
As Coinbase was clearly in accumulation mode and was going sideways, the news about a partnership with Blackrock popped up and created a massive surge in the price. In my opinion, it wasn't so much the news that caused the pump, but it served as an essential catalyst. The rally was so strong that the stock trading was paused and fell lower once it resumed. However, it wasn't just the pause that led to a pullback but also the fact that it hit significant resistance. This looks like a normal pullback, and the stock will rally higher at some point, although it might first fill the gap lower and retest the 75-80$ breakout zone. Therefore a dip here could be an excellent buy-the-dip opportunity, with the following primary target being 200-220$.
www.theblock.co
How about them applesWell kids....
If anybody was playing last night I hope you enjoyed the price action ala black rock..
Well an incredible time to be alive and limited time for all a standard traders to get on coinbase..
Like I've said all along
This is going to really shake up alot of people that I did not see his coming.. I did..
I made this trade and discovered it via being in between conciousness states..
I won't tell you exactly what happened because then everybody would be doing it, right?
Happy days....
I am an intuitive Trader that uses logic and intuition and the connectedness of the universe to make insane high value trades secured by diamond hands...
I'm educated as a scientist, and explore the Spooky World of non local conciousness trading...
Peace and love to all...
Can Coinbase Push Higher After A Breakout From Declining ChannelSimple analysis, Coinbase price has broken out of the declining channel, can it push higher or will it fail and move lower?
Earnings are out on Aug 9th
bapital.com/join
Filling the gapCoinbase stock is about 90% down since the first open.
One would get spooked by that, but that's normal in the crypto world.
It is also normal in crypto world to trade against your own customers, insider trading is prevalent, listing unregistered securities and promptly dumping them on retail is also normal.
After SEC started investigating the company even the most die-hard funds who've though that Coinbase is the future have dumped the stock. I'm specifically talking about Cathie Wood's Ark Invest.
Ark selling was the buy signal.
Taking a long to fill that gap. Mind this is a nearly 50% swing trade.
You would think that is not normal, but with crypto it is.
Good luck.
Bullish case for CoinbaseCoinbase x Meta NFTs x Blackrock
Wait for the confirmation tho
Hey folks, I am Nav!
With this account, I am trying to journal my trades. And I like to keep my trades extremely simple and uncluttered.
Please use the areas highlighted as support,confluence or resistance and plan accordingly & responsibly
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COIN - Rinse And Repeat 😨🙀COIN here having a big collapse after tagging 1:1 with overshoot along with indexes and BTC falling.
I've changed my count here i think its just repetitive 3 wave counts -probably ABC (or WYZ - who cares really).
I've made a retracement band for a potential low again but today's momentum candle is enormous - down 15% already.
And so I think perhaps similar to the previous accumulation WAAAAAY up it did a similar thing and broke out only to re-test the lows.
And so I will be looking more to BTC and NDX to try to gauge a re-entry from here.
That said RSI should get down to 20s, anything below will probably be a good buy.
Nat advice.
$COIN - Reversal with upside of +40% Technical Analysis (TA)
Weekly chart is oversold with William %R and RSI showing early reversals signs.
1D chart is forming a wedge and price is squeezing before a potential reversal about $70.
Price Target
Entry: $70+ breakout out
Take Profit: $100 (+40%)
#tradeidea
