You can get exposure to Crypto gains through COINWe are seeing very strong volume building up for COIN which could lead to further upside for this pair. We can use COIN to take advantage of the crypto narrative.
1QZ trade ideas
COIN Responds to Higher Terminal Rate ExpectationsCoinbase NASDAQ:COIN has been responding to higher terminal rate expectations, which have risen dramatically in the past month. In December 2022 and January 2023, the August Fed Funds futures contract previously showed a terminal rate of approximately 4.70%. And the consensus had adopted the view of significant rate cuts into year end 2023. Now, that has changed, and the FF futures contracts show that the market's view of rates is coming into alignment with the US Federal Reserve's messaging. The December 2023 contract has moved up approximately 22% since mid-December 2022.
Coinbase has been falling rapidly today, over -8.00% after PCE (the Fed's preferred inflation gauge) came in hotter than expected. Retail sales for January 2023 also came in hotter than expected, and measures of the economy give the Fed room to keep rates higher for longer. Markets want to have their cake and eat it too—but that's not possible in an inflationary environment (sticky components especially). Stronger economic data coincides with more sticky inflation data for now, which gives the Fed incentive (and room) to keep rates higher for longer.
Coinbase is correcting at a minimum. One cannot rule out the possibility of a retest of lows or a new low altogether. But until critical support is reached (and breached), it's best to take this one level at a time.
1. Today, COIN breached the lows from earlier this week, specifically the low on Feb. 22, 2023, creating a bearish short-term structure.
2. COIN has been in a short-term downtrend since February 2, 2023 highs. That provides a good risk-reward entry spot for short-term traders. Caution is advised due to the volatility regularly seen by this stock. And the closer the entry is to the defined risk level, the smaller the risk is and the larger the position size can be without violating risk-management principles (but the more likely the stop is to be triggered as well).
3. A conservative target is $52.50-$54.13 in the shorter term, provided the downtrend line holds
4. A moderately aggressive target is $44.90 to 46.61. This target is not in effect until the conservative target is breached and held to the downside.
5. If COIN does not make significant progress in the next few days, the idea will be cancelled. Vanna and charm hedging flows as March OPEX approaches can start to boost markets if downward progress is not made quickly in the coming week.
6. The Bollinger Bands suggest a downside breakout could occur in the coming days or weeks.
Supplementary Chart A
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Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed.
Please note further that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for the near term. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. And countertrend or mean-reversion trading, e.g., trading a rally in a bear market, is lower probability and is tricky and challenging even for the most experienced traders.
DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
$COIN = winner for intermediate & short term trading$COIN is our largest trading position by far
Going to start covering some, not have so much exposure in 1 position
Have #stock & sold Put #options
#crypto #cex #coin #Coinbase
$COIN forming NICE bottom forming patternwhat seeing for $COIN Intraday
15Min 30Min & 1Hr charts
Gets congested @ 4Hr and daily
Showing daily so you see
#COIN #stocks #crypto
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Different view for $COIN on DAILY
Forming Inverse Head & Shoulder patter
EARLY!!!
IF 56ish holds for a bit this is GREAT sign
Of course $BTC pumping would help the cause
#crypto #stocks
@coinbase
Is COIN ready to test 2022 lows?COIN recently had a nice oversold bounce and is now consolidating around the BigRed level, which is acting as a magnet line. After a few weeks of strength, it is now showing signs of weakness as it breaks below the BigRed level again and closes the day below it, which is bearish. Additionally, it has broken down from a symmetrical triangle, which is also bearish.
The volume is currently neutral but slightly more bullish than bearish.
COIN is currently trading below its 8, 20, and 200-day moving averages, which is bearish.
The RSI is ticking down but still remains in neutral territory.
The MACD is also ticking lower, but both the MACD and signal lines are currently above the zero line, which is more bullish than bearish.
Overall: COIN seems to have lost its upward momentum, which it had gained from the bounce off the lows. It needs to move away from the BigRed level, which is currently acting as a significant resistance zone. The $60 level is also a crucial area of resistance, where a lot of volumes were observed in 2022. Without any significant positive news and with bad reports, it will be difficult for COIN to break above that level and stay above it. With the Friday close below the symmetrical triangle and the BigRed level, there is a significant chance that the price will continue to fall towards the 50-day MA or the $50 area and may even retest the lows from 2022. However, before it can reach those levels, it first needs to cross through a crucial round number like $50 and the 50-day MA.
For the bulls, the price needs to move above the BigRed level as soon as possible and close the day above the 20-day MA (green line) to even consider testing the $90 level again.
$COIN: Good hedge if you're long cryptoSimple scenario here, bearish while below $61.74, accelerates if below $53.66...
Best of luck!
Cheers,
Ivan Labrie.
$GME - I was wrong... I was wrong. The run isn't over... I got faked out by the data in my last post/s. GME and the memes are going to pump more...
imgur.com
As you see it had reversed last week indicating we would flip to bearish this week. Then yesterday it re-flipped to bullish. I've honestly only seen this happen in June 2022 and i dont't understand what it means. All i know at this point is that the trend is your friend.
Also as you see here, it had fizzled out but then with yesterday's data it broke out. Yes it's a bloody breakout...
imgur.com
So yeah, i was wrong. Better get in. Also the rest of the market has also flipped to full on bear with no signs of slowing. I think this is the bull market even though it doesn't make any sense.
TLDR: There's MORE up for GME & the memes.
COINBASE Stock Chart Fibonacci Analysis 022223Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 59/61.80%
coinbase L2 airdrop tomorrow | COIN/BTCwith the potential coinbase chain launch tomorrow, this chart feels poignant.
looks juicy af tbh.
probably gonna rip.
another bounce from critical support?😍 bounce here and break of trend resistance and a rally to 82-100 is possible! break of 55 level and potential dip to 40-45 before more upside can happen.
for now bulls hold control here, boost and follow for more <3 thanks
MM Pattern may be forming.
The 2nd leg ended ay the .618.
Mo recommendation/T1 is in larger orange type than T2. T2 is valid only if T1 is passed.
COIN earnings todayCOIN Q4 December 2022 earnings are today 2/21 at 4:10pm. Coinbase Global Inc Cl A (COIN) reported Q3 September 2022 loss of $2.43 per share on revenue of $590.3 million. The consensus estimate was a loss of $2.23 per share on revenue of $642.8 million. Revenue fell 55% compared to the same quarter a year ago. Here's a COIN 1-day chart with a BTC/USD split view below since their price action is correlated together. COIN is trading at a delta equilibrium right near its pivot level today going into its earnings announcement post market. Since this can go either way after earnings, here's COIN TTCATR levels and 2/24, 3/17 & 4/21 expiry options data. The only thing that stands out is the 4/21 expiry options data is extremely bearish or heavy put hedging.
Q4 January 2023 Consensus:
EPS = (-$2.39)
Revenue = $586M
TTCATR SMA20:
Top = 101
R4 = 94
R3 = 86
R2 = 79
R1 = 71
pivot = 63
S1 = 55
S2 = 48
S3 = 40
S4 = 33
Bottom = 25
2/24 expiry options data:
Put Volume Total 20,795
Call Volume Total 32,341
Put/Call Volume Ratio 0.64
Put Open Interest Total 61,350
Call Open Interest Total 50,887
Put/Call Open Interest Ratio 1.21
3/17 expiry options data:
Put Volume Total 5,247
Call Volume Total 6,597
Put/Call Volume Ratio 0.80
Put Open Interest Total 105,856
Call Open Interest Total 87,486
Put/Call Open Interest Ratio 1.21
4/21 expiry options data:
Put Volume Total 3,377
Call Volume Total 3,495
Put/Call Volume Ratio 0.97
Put Open Interest Total 30,776
Call Open Interest Total 12,262
Put/Call Open Interest Ratio 2.51
COIN daily idea, with mapped out levels and trendlines.COIN
Nice hold and bounce off that 61.5 spot which was my previous breakout area mapped out in the last idea. Things to note we have another weekly candle close above the 9&21emas although the moving averages have not crossed yet. We are technically still bearish but setting up for a for big move. Earnings coming out next week I will be watching for that 61 area to hold if not we have a trendline spot to watch for a potential bounce or break down.
Long COIN Mar 17 '23 $50 PutHigher for longer rates are bad for risk assets. COIN has broken its uptrend and I look for the stock to move lower over the coming month. For a trade I went long the Mar 17 '23 $50 Put on COIN. We shall see.
COIN - Next moveAfter predicting the last top for coinbase around $80 then projecting the retracement would lead us to around $52 (0.618) within $1 of actual. We can now make a new projection for coinbase's price. After the temporary bottom around $52 we pushed back up to retest our 0.236 (red arrow/circle) as new resistance. This is in accordance to BTC retesting the $25,300 level and double topping. After testing our 0.236, coinbase immediately pushed back down to the 0.382.
Since Coinbase is following btc so closely we can project the 2 scenarios. The more likely one should be down. This would be in accordance to my previous post about BTC and btc breaching $20k again. This would theoretically put coinbase back around $40 which is close to our 0.786 of our trend and our 1.618 ($41) of our micro trend.
If BTC reverses trend and closes candles above $25,400, the Coinbase should start closing above our 0.236 which would give us the indication we are about to break our micro high around $89. If this move occurred then BTC should be back in the $28-30k zone and COIN should be in the $120ish range.
COIN: Cup and Handle watch for breakoutCOIN :Cup and Handle watch for breakout on 65m. Continued strength in sector in tandem with macro policies. Volume will be needed to confirm continuation on upside and acceptance at higher price shelf// KL: >70.47: 72.06, 73.25, 75.95, 83.02// <70.47: 68.80, 65.70 <63.00 invalidates this pattern // ATR: 6.80, Vol: 12.27%// Bias: Neutral-Risk on for intraday/short term; Risk on for long term//PT 83.02 on 65m// Price at time of publish: 70.88
💾 Coinbase | Looking At The Current Correction, Is It Over?Coinbase (COIN) remains really strong but the correction is significant, a 39% drop in 10 days.
The drop stopped right above EMA50 also matching the 0.618 Fib. retracement (golden ratio) level of the bullish wave that lasted exactly one month from 6-Jan. to 6-Feb.
If the market is set to move higher as we strongly believe will happen, this should be the end of the correction.
Not just the size but also the speed, fast drop, matches perfectly the type of market action we are having.
After a strong bullish wave that is set to continue, this is the exact type of correction that one would expect.
We have confirmation from other charts... TSLA just published.
Expect 168 next and 52 as the main strong support if the bulls fail.
Prepare for the worst, hope for the best.
Namaste.
Anyone Can Play GuitarDestiny
Destiny, protect me from the world
Destiny
Hold my hand, protect me from the world
Here we are with our running and confusion
And I don't see no confusion anywhere
And if the world does turn, and if London burns
I'll be standing on the beach with my guitar
I want to be in a band when I get to heaven
Anyone can play guitar and they won't be a nothing anymore
Grow, my hair
Grow, my hair, I am Jim Morrison
Grow, my hair
I wanna be, wanna be, wanna be Jim Morrison
Here we are with our running and confusion
And I don't see no confusion anywhere
And if the world does turn and if London burns
I'll be standing on the beach with my guitar
I want to be in a band when I get to heaven
And anyone can play guitar and they won't be a nothing anymore
--------------------
post-layoff value buy with macro crypto reversal
COIN 21023In a range, top to bottom is likely. Unsure if that even holds longer term. On the monthly it still remains in a lower high and lower low.
I do not have a bullish argument as of now. I do not understand why anyone would want to own Coinbase stock but mayve I'm missing something. Just buy Bitcoin, Ether, Matic, or something else entirely like LMT growth stock
I'd like to see the trend reverse for any long term hold buys which all of my stonks are
#coinbase a little to much, a little too fast I think the chart speaks for itself, but this looks like a short squeeze and a bit of an exhaustion (shorts taken to the cleaners).
If the history of this chart is anything to go by, i would expect a reversion to the mean so i'll be looking to short this 80 level for a pullback into the mid 60's
Noticias y analisis del mercado Feb 8This video is a quick analysis of the market.
We are expecting a correction in the market after this quick jump in the stock and crypto market
