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Cathie Wood’s Ark Invest sold $69M Coinbase ($COIN) SharesCathie Wood's Ark Invest has made headlines once again with a significant sell-off of Coinbase ( NASDAQ:COIN ) shares, amounting to a staggering $69.5 million. As one of the leading voices in the investment world, Wood's strategic moves often garner attention and spark discussions among investors. This latest divestment of Coinbase ( NASDAQ:COIN ) shares raises questions about Ark Invest's strategy, the performance of Coinbase, and the broader implications for cryptocurrency investors. Ark Invest's Strategy and Coinbase's Performance: Ark Invest operates with a strategic vision aimed at maintaining a balanced portfolio across its ETFs, necessitating periodic rebalancing when individual holdings exceed certain thresholds. The surge in Coinbase's share value, fueled by the recent rally in the price of bitcoin (BTC), prompted Ark Invest to conduct this substantial sell-off. Despite this move, Coinbase's weighting across Ark's ETFs remains above the 10% threshold, hinting at the potential for further sales. Market Response and Coinbase's Current Performance: Following Ark Invest's divestment actions, the market response to Coinbase's performance has been closely watched. Despite the sell-off, Coinbase ( NASDAQ:COIN ) has shown resilience, with a 5.77% increase in pre-market trading. This uptick in share price reflects investor sentiment and underscores the volatility inherent in the cryptocurrency market. As Coinbase ( NASDAQ:COIN ) continues to navigate this dynamic landscape, investors are keenly observing its performance and evaluating its long-term prospects. Implications for Investors: The divestment of Coinbase ( NASDAQ:COIN ) shares by Ark Invest raises important considerations for investors. It highlights the need for a balanced approach to portfolio management, particularly in volatile markets like cryptocurrencies.
NASDAQ:COINLong
by DEXWireNews
Bullish on COINBASE - Reasons to BuyAn investment in COIN (Coinbase Global Inc.) represents a compelling opportunity to invest for several reasons: First, as a leading cryptocurrency exchange platform, Coinbase is at the forefront of the rapidly growing digital asset market. As cryptocurrency adoption increases, Coinbase stands to benefit significantly from the growing demand for trading and investing in digital assets. In addition, Coinbase's business model offers multiple revenue streams, including transaction fees, custody services and institutional trading, which positions the company for long-term growth and sustainability. Coinbase's strong reputation for security and regulatory compliance enhances the company's appeal to both retail and institutional investors. In addition, the recent approval of a Bitcoin spot exchange-traded fund (ETF) by the Securities and Exchange Commission (SEC) provides another opportunity for COIN investors. As the market for cryptocurrency-related financial products continues to mature and expand, COIN will benefit from increasing trading volumes and investor interest in digital assets.
NASDAQ:COINLong
by Ochlokrat
1
Coinbase Stock Surpasses Initial Public Offering PriceThe stock price of Coinbase ( NASDAQ:COIN ) has surpassed its initial Public Offering (IPO) price for the first time in over two years, as Bitcoin ( CRYPTOCAP:BTC ) reached a new all-time high. When the most prominent U.S. crypto exchange entered the public market through a direct listing in 2021, the Genesis price was $250 per share. Initially, the stock experienced a surge, reaching a peak of $350 per share in November 2021. However, it concluded its first year on the market with a 38% loss. The following years saw Coinbase’s ( NASDAQ:COIN ) shares struggle as the cryptocurrency market plummeted and regulatory scrutiny from the SEC intensified. However, the past year has witnessed a dramatic turnaround for Coinbase ( NASDAQ:COIN ), thanks partly to Bitcoin’s price surge and the SEC’s approval of spot Bitcoin ETFs. As a result, Coinbase’s ( NASDAQ:COIN ) stock value has spiked by over 300% in the past 12 months. The company’s stock surged over 5% today after the latest bull run saw CRYPTOCAP:BTC reach a new peak of $70,000, but Coinbase ( NASDAQ:COIN ) is not the only company benefiting from the current bull market. MicroStrategy Inc., the largest Bitcoin holder, also increased its shares by 113% in the past month. NVIDIA’s stock also rallied over 20% this month due to its close association with Bitcoin mining. Despite Coinbase’s ( NASDAQ:COIN ) latest achievement, savvy investors who have held onto their shares since the beginning may not feel completely vindicated. By the end of 2022, the company’s stock had plummeted by 86%. Nevertheless, Coinbase’s ( NASDAQ:COIN ) stock has been on an upward trajectory alongside the crypto market. The rise comes despite recent technical issues on Coinbase’s platform, where some users reported seeing zero balances.
NASDAQ:COINLong
by DEXWireNews
TradingView Post: Coinbase Climbs as Bitcoin Hits New HighWith Bitcoin breaking to all-time highs this week, the spotlight is shining the world’s largest cryptocurrency platform: Coinbase. Bitcoin's Surge Propels Coinbase Despite Platform Hiccups In the midst of Bitcoin's impressive third bull run, cryptocurrency trading platform Coinbase is experiencing both highs and challenges. Bitcoin's ascent to over $1 trillion in market cap has boosted Coinbase's standing, with the platform witnessing increased user activity – propelling the shares higher. However, the surge in demand has also led to disruptions, including displays showing zero balances for some users. Coinbase's ability to navigate and swiftly address these challenges will be crucial in maintaining its position as a leading player in the dynamic cryptocurrency market. Coinbase: Key Levels to Keep an Eye On Daily Candle Chart Analysis: Coinbase’s recent rally has seen the shares surge past the December highs – forming a series of steepening trendlines in the process. The shares have just completed an ABCD harmonic move – where the magnitude of the recent rally is equidistant to the Nov-Dec rally. Key levels to watch on the daily candle chart include the two ascending trendlines and the broken resistance / turned new support area created by the broken December highs. COIN Daily Candle Chart Past performance is not a reliable indicator of future results Weekly Candle Chart Analysis: Elevating our perspective to a weekly timeframe unveils a broader picture of Coinbase's performance. The recent rally has successfully breached a significant resistance level created by a cluster of swing lows in May 2021, providing ample headroom until the November 2021 swing highs. COIN Weekly Candle Chart Past performance is not a reliable indicator of future results Disclaimer: This is for information and learning purposes only. The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance. Social media channels are not relevant for UK residents. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.01% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
NASDAQ:COIN
by Capitalcom
📉 Coinbase Closed Red (77.99 Next)Just two simple points I would like to mention as the chart remains the same as in the previous trade idea: 1) The Irregular correction (3-3-5) stays the same. 2) COIN closed red both the 27th and 28th of February. March 2024 Coinbase (COIN) and Bitcoin (BTCUSD) will turn red, big time. 👉 The correction target at this early date is expected to happen between 64.9 to 91.08. That is between the 0.786 and 0.618 Fib. retracement level for the entire bullish wave starting December 2022. Namaste.
NASDAQ:COINShort
by AlanSantana
23
COINBASE rallying as it should since our last call. What's next?Coinbase Global, Inc. (COIN) has started an amazing rally following our February 05 buy signal (see chart below) and is headed towards the $285.00 Target: We are modifying the Channel Up to make contact with all three Higher Lows as the Higher Highs comfortably fit the 0.786 Fibonacci Channel retracement level. As you can see all previous Higher Highs have been formed with a 1D candle closing below the 0.786 Fib and right now the price is sitting exactly on that level. This indicates that as long as the stock doesn't clos a 1D candle above it, we may see one last short-term pull-back towards the 0.5 Fib before eventually reaching the $285.00 Target. If however a 1D candle does close above the 0.786 Fib, we do expect the current rally to continue straight to the Target. Notice at the same time the 1D RSI entering the 2023 Resistance Zone. This is an unnoticed key dynamic as the previous Higher Highs were priced after the RSI got rejected on the Resistance Zone and it entered back blow the 70.00 overbought barrier. Keep an eye for a timely exit. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NASDAQ:COIN
by TradingShot
3
$COIN Weekly Chart Double Top PierceNASDAQ:COIN Weekly Chart Double Top Pierce, A "double top with a pierce" is a bearish reversal pattern commonly observed in technical analysis, particularly in stock charts. It typically indicates a potential trend reversal from bullish to bearish. - **Formation**: The pattern consists of two peaks (high points) that are approximately equal in height, separated by a trough (low point) in between. The first peak forms during an uptrend, followed by a decline to the trough. The price then rallies again to form the second peak, which is often at or near the same level as the first peak. - **Pierce**: In a double top with a pierce pattern, the price briefly pierces above the high of the first peak before reversing downward. This pierce above the first peak can often trap bullish traders who see it as a breakout, but the subsequent reversal indicates a failure to sustain upward momentum. - **Neckline**: A trendline drawn connecting the lows of the troughs forms the neckline of the pattern. The neckline acts as a support level, and a break below this level confirms the pattern. - **Volume**: Volume tends to decrease as the pattern forms, then increases when the price breaks below the neckline, confirming the pattern. - **Confirmation**: The pattern is confirmed when the price breaks decisively below the neckline on high volume. This breakout below the neckline suggests that bearish momentum has overcome previous buying pressure, signaling a potential trend reversal from bullish to bearish. Traders often use the height of the pattern (from the peaks to the neckline) to estimate a potential price target once the pattern is confirmed. Overall, the double top with a pierce pattern is considered a reliable bearish signal, but like any technical pattern, it is not foolproof and should be used in conjunction with other forms of analysis.
NASDAQ:COIN
by AlgoTradeAlert