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COINBASE - BULLISH SCENARIOCoinbase (NASDAQ: COIN) exceeded Q3 expectations with a better-than-expected EPS and revenue. However, it saw a second consecutive quarter of declining trading volumes, causing after-hours shares to drop over 4%. In Q3, EPS was ($0.01), surpassing the consensus estimate of ($0.55). Revenue reached $674.15 million, beating the consensus estimate of $650.97 million but declining 5% from the previous quarter. Q3 total transaction revenue fell 12%, with a 17% drop in total trading volume. Q3 subscription and services revenue remained flat at $334 million. For Q4, the company expects subscription and services revenue to stay roughly the same as Q3 and transaction expenses as a percentage of net revenue in the mid-teens. Coinbase aims to achieve meaningful positive adjusted EBITDA in 2023, revising its goal from improving 2023 adjusted EBITDA in absolute dollar terms over 2022. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
NASDAQ:COINLong
by legacyFXofficial
Coinbase (COIN) Surges. Will it Surpass Expectations?Introduction: The stock price of Coinbase (COIN), one of the biggest cryptocurrency exchanges in the world, is making waves today with a remarkable 7.3% surge in anticipation of a crucial earnings call scheduled for 17:30 GMT-4. This event has captured the attention of traders and investors, and as the world watches, the burning question is whether Coinbase can beat the high expectations set by the market. Earnings Expectations: Market analysts are projecting that Coinbase's Q3 earnings report will reveal revenue of approximately $653 million and earnings per share (EPS) of -0.54. These numbers are indicative of both the potential and the challenges that lie ahead for this cryptocurrency exchange giant. Q3 Market Dynamics: Q3, unlike the previous months of July and August, was a relatively quiet period for Coinbase, with the crypto markets experiencing subdued activity. However, September marked a significant turnaround, with volatility levels rising notably. This shift in market dynamics could have a substantial impact on Coinbase's financial performance for the quarter. Custodian Role in ETFs: One intriguing development for Coinbase is its role as the custodian for all the bitcoin spot exchange-traded funds (ETFs) in the United States. This new responsibility presents exciting opportunities and potential growth for the American exchange. As the adoption of cryptocurrency ETFs continues to gain momentum, Coinbase stands to benefit significantly. Market Conditions: Furthermore, the broader stock market is also on an upswing today, with Nasdaq gaining 1.4%. Simultaneously, Bitcoin experienced a notable spike, briefly reaching $36,000 before encountering a slight dip. These positive market conditions might be contributing to Coinbase's impressive stock price performance. Comparative Performance: In the context of the past month, Coinbase's stock price has risen by a respectable 10%. However, this gain pales in comparison to Bitcoin's impressive 27% increase over the same period. This discrepancy raises questions about whether Coinbase can catch up with the soaring performance of the world's leading cryptocurrency. Conclusion: As the clock ticks down to the eagerly anticipated earnings call, all eyes are on Coinbase. The financial results unveiled during this event will provide insights into the cryptocurrency exchange's health and resilience in a rapidly evolving market. Whether Coinbase can outperform expectations or merely meet them, its current surge in stock price is indicative of the market's optimism regarding its potential to capitalize on the evolving crypto landscape. Investors and traders alike will be watching closely to see if Coinbase can deliver on these expectations and continue its journey as a major player in the cryptocurrency industry. The world of cryptocurrency awaits the verdict on Coinbase's Q3 performance with bated breath, aware of the pivotal role it plays in the crypto ecosystem.
NASDAQ:COIN
by CryptoSnagger
COIN/USD Harmonic Possibility I posted recently something similar with LTC (Litecoin/USD) and this is basically the same concept but on a much larger scale, this being the weekly timeframe. The premise here is that from a center point, we can see as we scroll to the right of this weekly structure a sort of mirroring is happening. My guess would be the same way we expect any harmonic pattern to work. I could not exactly feel comfortable drawing any Bat or Butterfly harmonic patterns some may know it but I drew some... structural hotspots of when to expect this to move dramatically. Now based on some previous data I have seen on Bitcoin, I know that you can have seemingly a perfect reversal pattern from a pattern literally curving like a smile and still continue in the previously indicated direction. So I have simply expressed the points are major stress, it being the structural squeeze and some measurements based on the previous volume wells that led us to this moment. Either we hit $105 or we go to $35. I would extend the possibilities more but there are some structural interruptions that may be mirrored so the resistances or supports may be perceived fully from the squeeze this is probably going to have. Anyway just an idea.
NASDAQ:COIN
by bloodbound696
5
$Coin is in Trouble Headed into NFP next weekNASDAQ:COIN much like many of the crypto stocks pumps are steadily meeting strong resistance as the result of the sell down. Although Bitcoin and several crypto names went on a pump on etf news. There still a ton of downside that is likely to fill as we examine structure. 80-85 strong overhead resistance. Still trading within our strong weekly bearish engulfing candle (5 weeks now) Potential Bear Flag Under Resistance Next level of support is around $50. I would like Nov 24-Dec 1st puts to come active on this next week as we head into NFP. Ideal entries back around 80 NASDAQ:COIN
NASDAQ:COINShort
by Thecontrariandaily
1
COINBASE Final dip before bullish break-out.Coinbase Global (COIN) is failing on successive attempts to stay above the 1D MA50 (blue trend-line) and that is technically establishing it as the medium-term Resistance. The long-term one is the 1W MA100 (red trend-line), which has never been broken. Based on the MACD sequence, we have potentially one more dip to make on the Higher Lows trend-line, simiarl to May 04 and June 06, before first to test the 1W MA50 and then Resistance 1 (116.50), which is intact since August 04 2022. Our first target is 80.00 (1W MA100 projected path) and second is 115.00 (just below Resistance 1). ------------------------------------------------------------------------------- ** 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