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4COIN trade ideas

Coinbase's high uncertainty rating explained, key zone $190Coinbase's stock price has been in a downward consolidation phase since March, with a key level zone identified at $190. This zone represents previous highs and serves as a crucial support level during this period. A breach below $190 could trigger selling pressure, potentially pushing the price lower towards the open gap at $143. This scenario suggests that a break below $190 may signal further downside momentum in Coinbase's stock price. Coinbase's first-quarter earnings, scrutinized by Morningstar, revealed robust growth driven by surging cryptocurrency prices and volatility. Revenue more than doubled to $1.6 billion, bolstered by a $737 million gain on mark-to-market cryptocurrency assets, resulting in a net income of $1.18 billion. The retail trading business emerged as the primary revenue driver, experiencing a 99% increase from the previous quarter and a remarkable 184% surge from the previous year, totaling $935.2 million. Despite concerns over long-term price competition due to high fees relative to peers, Coinbase's market share remained resilient, with average pricing trending upwards. Economic Moat Rating and Financial Strength Morningstar assessed Coinbase's economic moat as nonexistent, despite its leading position in the US cryptocurrency exchange market. The company's reputation for reliability and compliance has allowed it to charge higher fees than many competitors. With over $5.1 billion in cash and significant cryptocurrency assets, Coinbase maintains a strong financial position, providing flexibility during periods of market volatility. Risk and Uncertainty, Bull and Bear Perspectives Coinbase's exposure to cryptocurrency prices and trading volume, coupled with regulatory uncertainty and interest rate exposure, contributes to its Very High Uncertainty Rating. Bulls emphasize Coinbase's leading market position and potential for global expansion, while bears caution against the cyclical nature of cryptocurrency markets and regulatory challenges, including allegations of acting as an unregistered securities exchange by the SEC.
NASDAQ:COIN
by Vestinda
New Class Action Lawsuit Filed Against Coinbase Stock Down 2.45%Coinbase Global ( NASDAQ:COIN ) and CEO Brian Armstrong are facing a class action lawsuit from complainants claiming that the company misled them into buying securities. The lawsuit argues that digital assets listed on Coinbase are securities, and they also allege that Coinbase Earn accounts violated securities laws by advertising and promoting for higher yields. The plaintiffs also claim that Coinbase ( NASDAQ:COIN ) admitted it is a "Securities Broker" in its user agreement, making digital asset securities sold by the exchange as investment contracts or other securities. The plaintiffs are seeking full recession, statutory damages under state law, and injunctive relief in a demand for a jury trial. The lawsuit is similar to other class actions and the SEC lawsuit. Coinbase ( NASDAQ:COIN ) has escalated its legal dispute with the U.S. SEC by filing an interlocutory appeal on the "investment contract" definition. Coinbase's CLO, Paul Grewal, believes that the exchange has a higher chance of victory as the SEC's interpretation of investment contracts doesn't align with Second Circuit and Supreme Court cases. Coinbase's interlocutory appeal is also critical for the Ripple Vs SEC lawsuit, as the SEC could appeal Judge Torres' ruling that programmatic sales of XRP are not securities. Technical Outlook Coinbase Stock ( NASDAQ:COIN ) was down 2.45% on Friday's market close trading below the 50-day Moving Average with a Relative Strength Index (RSI) of 48.39.
NASDAQ:COIN
by DEXWireNews
1
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. ------------------------------------------------------------------------------- ** 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:COINLong
by TradingShot
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.
NASDAQ:COINShort
by MikeMM
24
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.
NASDAQ:COIN
by TSuth
5
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.
NASDAQ:COINLong
by ChartScope
8
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. ------------------------------------------------------------------------------- ** 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
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.
NASDAQ:COINLong
by Rocketman