COIN Wedging on the DailyCOIN is looking really good here on the daily chart. Reclaimed the 50 EMA after that bounce, and MACD is about to flip bullish. Targets $260 to $280.
1QZ trade ideas
Buy long for upside potential of 20% from here Earning release ahead
Can expect upside potential of 20% from here
COINBASE Bottomed and turning bullish for 2 months.Coinbase (COIN) completed a 2-day green streak following a Lower Low within the Falling Wedge, which is technically the Bearish Leg of the 6-month Channel Up pattern that started on the October 27 2023 Low.
By tomorrow the 4H MA50 (blue trend-line) would have crossed below the 4H MA100 (green trend-line), forming a Bearish Cross, which is a pattern last seen on February 02 2024. The stock bottomed 2 days later, above the 4H MA200 (orange trend-line), which is currently at.
In contrast to the stocks Lower Lows, the 4H RSI formed Higher Lows, which is a Bullish Divergence, the same kind of pattern it completed on February 05. Technically, once it breaks above the 4H MA50 again, we will have a confirmed Bullish Leg (dotted) at its very start. The last one reached the 1.786 Fibonacci extension, so we are targeting at least $370.00 on this run.
It is worth noting that there is a high degree of consistency in the frequency on the Highs and Lows of the Channel Up, which is clearly shown by the Sine Waves on this chart.
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Since it is Bitcoin season hoping this share to fly from hereGood chance to bounce and execute the head and shoulder pattern. Fingers crossed!
Bull Market OVERDouble top at the .618 fib
Slightly higher high with the indicators showing bearish divergences.
The RSI is showing bearish div
The Macd showing bearish Div plus a cross down of the averages, The williams %r also turned down showing bearish divergences.
Bitcoin is in a head and shoulder pattern with a target of 5-6k. Coinbase probably headed for 20 or lower. It will have very few bounces. Insiders are selling this stock like crazy, they are probably going to go bankrupt with the amount of lawsuits for selling unregistered securities to unsuspecting Americans.
Is Coin heading towards $128? 🧸As I had pointed out in my BTC idea, I believe we are in a distribution phase. BTC will pull the rest of the market down along with it. Where there is panic, there is opportunity.
NFA.DYOR. Placed buy orders around $128. Can change, as PA develops.
COIN BEARISH FLAG IDENTIFIEDCOIN Created an interesting bearish flag under the hourly timeframe where we may see another downside momentum. Expecting to see a breakout confirmation on the flag formed which can drag the prices toward the next support held at $194
Coinbase UpdateCoinbase may be trying to throw us for a loop. Judging by price action I see three different options. The first one which is also my primary, is this (c) wave is creating a 3-wave move higher to the target box, and we should start to move higher in a mini-5-wave move. The second is we're still in our (b) wave and about to make OML for a mini-c-wave to finish off (b) before heading higher in (c) of B. My 2nd ALT is B is already finished / was shallow, and we're about to head lower to sub $200. MACD looks reset on the hourly chart and primed to head higher. Hopefully within the next day or two we should get our answers.
P.S: BTC looks like it is in the exact same position as Coinbase.
COIN Coinbase Options Ahead of EarningsAnalyzing the options chain and the chart patterns of COIN Coinbase prior to the earnings report this week,
I would consider purchasing the 200usd strike price in the money Calls with
an expiration date of 2024-5-3,
for a premium of approximately $38.75.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
The Unstoppable Rise of Coinbase: Navigating CyclesIntroduction: The Resilience of Coinbase NASDAQ:COIN
Originally, this article was slated for publication several months ago. We've been keen observers of the market dynamics from the beginning. Recently, there has been a significant downturn, yet for those who understand, this has not been a deterrent. Instead, it highlighted the efficacy of Dollar-Cost Averaging (DCA) in managing investments in less favorable market conditions, especially with robust stocks like Coinbase.
Why Coinbase Remains a Strong Bet Despite Bear Market Losses
Yes, it is true—Coinbase faced losses during the bear market phase. However, these setbacks are part and parcel of the cyclical nature of Bitcoin financial markets. Those who grasp this cyclical trend can continually assert themselves in the market. The entry of Blackrock during the 2022 bear market marked a significant turnaround, signaling a move to bring Bitcoin further into the Wall Street fold, a plan that was effectively executed.
The Predictive Power of Blockchain Technology
Interestingly, the history of cryptocurrency has shown that predictions about its growth and impact often come to fruition, not necessarily requiring substantial initial investments. The blocks, or the underlying technology of cryptocurrencies, show the path forward, reminiscent of the adage:
"First they ignore you, then they laugh at you, then they fight you, then you win."
A Focus on Technical Analysis Over Economic Forecasting
This article is dedicated to exploring Coinbase through technical analysis rather than economic forecasts, as the latter are highly dependent on market cycles. The chart mostly speaks for itself, indicating future directions based on historical data patterns.
Looking Ahead: Growth Projections for Q1 2024
As we look towards Q1 2024, growth revenue estimates are touted at $1.2 billion, with projections from Messari even more optimistic at a minimum of $1.5 billion. Our analysis suggests that these forecasts will be exceeded, driven by factors such as ETF trading and the launch of Coinbase's own Layer 2 solution on Ethereum via Optimism (Base). This platform is creating substantial volume and cash flow for Coinbase. It is expected to enhance significantly in the coming bullish phase as Coinbase directs users towards decentralized services through its wallet on the L2 chain.
The Emergence of Coinbase as a Market Leader
About the Bitcoin ETF, it has been clear from the start that Coinbase is poised to remain a dominant player. Most transactions are processed through Coinbase, establishing it as the hub of crypto and institution trading activities.
The Significance of Technical Chart Analysis
The overall assessment, similar to our observations with Microstrategy NASDAQ:MSTR and Marathon Digital Holdings NASDAQ:MARA , predicts a parabolic rise in Coinbase's stock price over the year. This is not just due to high short interest but also influenced by broader market conditions including anticipated downturns in the TVC:DXY DXY and oil prices NYMEX:CL1! , which could stimulate increased buying interest and potentially trigger a short squeeze.
Current Position and Future Targets
As of March, Coinbase encountered resistance at the $277-$290 range, known as the golden pocket. This is a typical market behavior indicating a minor corrective phase that now appears to be concluding. From here, we anticipate that Coinbase will rally in the coming months with immediate targets being the previous all-time high (ATH) at $429 and possibly reaching the 4.618 Fibonacci extension at $452. This would complete a significant phase in the market's cycle.
What Comes Next?
Following this anticipated third wave, a corrective fourth wave would ensue. Should we approach closer to the third wave, an update will be provided.
Long-term Vision in the Upcoming Bullish Season
Although still tentative, long-term targets are ambitiously set around the $2,000 mark, pending further clarity from future market behavior. We remain bullish and look forward to an exciting bullish season ahead.
COINBASE reduction for prepre new buy oportuityHi My friend i looked you my potencial setup for buy new position on coinbase. Good Luck. L.
COIN 260 - 273 AFTER EARNINGS ?Why Coinbase Could Soar to $260 Post-Earnings
Coinbase, the renowned cryptocurrency exchange platform, has been making headlines with its impressive financial performance. As we approach the next earnings release, there’s a palpable buzz around the possibility of the stock price hitting the $260 mark. Here are some compelling reasons why this could become a reality:
Strong Earnings Report: Coinbase recently reported earnings per share (EPS) of $1.04 for the quarter, significantly surpassing analysts’ consensus estimates1. This positive surprise is a testament to the company’s robust revenue generation and cost management strategies.
Revenue Growth: The company’s net revenue reached $905 million in the fourth quarter, marking a 45.2% increase from the previous quarter2. This surge in revenue reflects Coinbase’s ability to attract and retain a substantial user base, despite the volatile nature of the cryptocurrency market.
Profitability: For the first time since the fourth quarter of 2021, Coinbase reported a net income of $273 million2. This return to profitability could be a strong indicator of the company’s financial health and operational efficiency.
Market Position: With a mission to increase economic freedom worldwide, Coinbase has established itself as a leading platform in the crypto economy3. Its comprehensive suite of services, including trading, staking, and safekeeping, positions it well to capitalize on the growing interest in cryptocurrencies.
Analyst Optimism: Some analysts have set high price targets for Coinbase, with predictions reaching as high as $2764. This optimism is fueled by the company’s consistent performance and the expanding adoption of crypto assets.
Technological Edge: Coinbase is not just a marketplace for crypto transactions; it’s also a technology provider that enables developers to create innovative crypto products3. This dual role could be a key driver in the company’s future growth and stock price appreciation.
Macro Factors: The broader financial market’s sentiment towards cryptocurrencies and blockchain technology can significantly impact Coinbase’s stock. Positive developments in the crypto space often translate into increased trading volumes and higher revenues for exchanges like Coinbase.
COIN once again completing a normal correction...As you can see when our Wyckoff Technometer registers oversold with a reading below 38 as marked with green highlights, it normally provides an excellent entry point.
Once again we are at .50 retracement of the previous rally, and a nice entry level.
COINBASE around the 1D MA50 but the MA100 more likely to supportCoinbase Global (COIN) rose as high as our last target (March 05, see chart below) and has been pulling back since:
The best way to view this short-term correction is on the diverging Channel Up (blue) which started on the October 27 2023 bottom. As with the longer term Channel Up, it consolidates considerably below the 1D MA50 (blue trend-line), with the last (February 05 2024) Low finding support just above the 1D MA100 (green trend-line).
As a result we expect a Higher Low for the diverging Channel Up close to 185.00, before start seeing the new Bullish Leg. In addition, we need to see the 1D RSI touching its 2-year Support Zone, which usually tends to touch it twice during an Accumulation Phase. The price also tends to Double Bottom. This means that there will be time most likely (always account for how strongly the Bitcoin Halving might do to the market) to identify the new bottom and most optimal buy entry based on the conditions above.
We are willing to buy there for the Bullish Leg that will follow and target $370.00, which is the top of the long-term Fibonacci Channel. Note that in case of a break-out, the price can even go as high as the 2.0 (blue) Fibonacci extension ($440.00), which is around the Fib level that the last two Higher Highs where priced.
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Coinbase: A Technical PerspectiveFundamentals:
From a speculative outlook, the fundamentals on Coinbase do not fully meet my criteria, but this IPO's balance sheet is projected to continue its acceleration in sales. Currently, this quarter's sales were at 52%; earnings over 142%.
Technicals:
Daily hammer at horizontal support with really high volume relative to other periods and days at or candles prior to this and around it.
uHd in the histogram
Based on what I perceive to be a bottom in the Coinbase valley, I look to add Coinbase's dividend paying ETF, CONY, to the portfolio.
$COIN shorts are trapped! Major squeeze incoming?NASDAQ:COIN shorts trapped after false breakdown. Price broke down both below the daily 50 sma (purple) and March 2024 low and then recovered. A trader bought a 275/277.50 bull debit spread risking over $200K and targeting near ATHs ($283.48).
Bitcoin bust?All depends on the fed.
Only judging from a basic bearish rising channel mixed with negative divergence.
COINBASE-SELL strategy Daily chartThe share has moved as expected, and looking at the chart, we should reach around $ 170-180. the pattern is "M-top" and neck line somewhere @ $ 240 area.
For now we are slightly oversold, and we could pullback to $ 250-250 before the decline will set in to 170.
Strategy SELL @ $ 245-250 and take profit @ $ 175. SL above $ 280.
Triple top idea $COINJust though the chart looked kinda nice. It filled this little daily gap so far. Slight relief seeing the market finally retrace a little bit as well
COIN to $150 before bouncing higher?Lines up with the 1.618 fib which can act as major support on falling price action.
Solid long entry IMO, time will tell.
Coinbase UpdateCoinbase made some good progress today towards the target box. It appears to me we are in wave iii of C of (A). More specifically I think we're in wave 4 of iii and should have a little retrace before dropping again to the 1.382-1.618 ($218.14-$213.18) for 5 of iii before raising again for wave iv of C. MACD should start to raise towards the zero line if this is the case. Nothing more to really add at this time, let me know if you have any questions.
P.S. - How do all the haters out there that kept saying Coinbase was about to rip higher feel? Of course, markets aren't linear, and we will get retraces higher, but this is just the beginning of this retrace lower in a larger wave 4.
CoinbaseHello friends
In the case of Coinbase, we are witnessing the formation of an upward wave.
This upward wave can be 5 waves or zigzag, of course, everything depends on the growth of digital currencies.
But the probable scenario is a 5-wave, whose waves 1, 2, and 3 have been completed.
Wave 4 may be zigzag, triangle or... Therefore, by breaking the ceiling of $281, which is a static resistance, you can enter into a buy deal, the final goal of wave 5 is $360.
If the stock declines and there is a correction, it could go down to $177 or $118.
I recommend that you install Trading View software on your phone to support me and see my analysis and support me with your comments and Boost. Be successful and profitable.
