COIN H&S Breakout ContinuesCoinbase continues to gain after breaking up and out of the neckline of an inverse head and shoulders pattern, price is up +10% today - trade was initiated last week upon seeing the inverse head and shoulders breakout.
Due to the pop in price today I've raised my stop-loss level to $85.75 in case price reverses on profit taking. This stop level ensures that I exit the trade with a gain if price reverses, while at the same time leaves some room for volatility if price begins to fluctuate.
Lower PPO and TDI indicators are still reading bullish, but the green RSI line of the TDI indicator is now above the 80 level which is considered overbought meaning a correction to the downside can be expected.
Buy Price: $79.21
Stop-Loss: $85.75
Take Profit: $136-ish
Gain if I get stopped out at $85.75: +8.2%
Gain if price reaches take-profit level: +71%
This stop level will remain adaptive to price movement, price has gained another 3% in the few minutes it took me to write this and COIN is now up +13% on the day.
COIN trade ideas
COIN IS LOOKING RED HOT!If it can close a 4 hr candle above 85.65 resistance this is going to fly to 95+ $NASDAQ:COIN. You can see COIN is pushing up now 3rd time is a charm. AlsI have also noticed that if you set your pitchforks in the right place there is usually big ole FVG between the upper and lower 0.25 and the red median lines. Price tends to move quickly through this area on the pitchfork. Plus you have news catalysts like Black Rock announcing they are using Coinbase services to support their ETF.
💾 Coinbase Bullish Long-Term ConfirmedWe have bullish confirmation on the Coinbase (COIN) chart, coming in the form of a weekly session close above EMA10 and EMA21, this happened last week.
This week we get a full green candle above these two levels confirming the bullish bias. After months of volume dropping, it is starting to go up.
The RSI moved past 55, only EMA50 (74.63) remains as resistance. Above this level, the path is clear to 150 or more.
Namaste.
COINBASE resting before the next pop (Daily)Ever since we have left Wave 2 we have been on full out lift off mode from $46 TO $78.30 after close today in about almost a MONTH.... The Wave 3 target is around $117-136 range. We need to break above these blue resistance lines I have in the chart. We should know if this truly is a wave 3 or just a C wave fool's rally depending on this resistance level in the coming days.
Coinbase going to $100+ (Weekly)Coinbase if the Wave count is right should be going to $130+ as we are in the Wave 3, which is the most powerful wave. If we are to break through the resistance lines (which are in blue) buckle up because it is going to takeoff.
COIN - Waiting for a drop to buy back inAlready took profit but if I was still in I would sell and then wait for the lower median line to enter.
$COIN - watch for thatNASDAQ:COIN Watch for a breakout above anchored VWAP. It could serve as a lunch pad for next leg up. Heading to second target $84 - $87 area.
Previous targets of $84 and $110 not changed.
💥🚀 💰
COIN Inverse Head and ShouldersCoinbase is breaking up and out of an inverse head and shoulders pattern as the crypto platform benefits from a rising Bitcoin price and news that Blackrock has chosen COIN as the custodian for the Bitcoin that they will have to acquire if their Bitcoin ETF is approved by the SEC.
Blackrock BTC ETF filing ignites price rally:
www.nasdaq.com
Blackrock ETF approval rating is 575-1:
www.ccn.com
Coinbase will be Blackrock BTC custodian:
www.cnbc.com
Opened a trade in COIN this morning at $79.21; stop loss is at $67, take profit is at $136.
COIN: Wyckoff Reaccumulation or DistributionCOIN has consolidated for several weeks and I originally believed that a distribution pattern was forming. However, recent structure has caused me to doubt my initial analysis.
With a distribution pattern, an uptrend ends and a channel is formed. The upper zone is between 80 and 85 while the lower is between 50-55. It is then followed by weeks of consolidation so big money can scale out of their positions. The schematic does not always line up perfectly but it provides a nice template. However...
Several breaks below the trading range beyond phase B is not a distribution characteristic. It is a characteristic of an accumulation. It seems we've experienced two shakeouts and now we have this monster run with very shallow pullbacks. In both scenarios, this run-up should break above the high of the trading range and then consolidate. My question is will the consolidation lead to higher prices or lower prices?
Looks like a good investment, ("Looks like")Price looks like it has been rejected off a good support area and has broken a trendline (which ONLY touched 2 point).
I'll come back in a few months time to see if my analysis is right or wrong.
What do you people think about my overly simple analysis which does not look at any fundamentals?
Netral on Coinbase and Crypto for a whileVolatility will remain high for COIN stock, so its options are playable.
For long term bagholders, have money ready and deploy it sub $45 a share
Add some underlying Privacy Asset: Zcash (ZEC) to your portfolio under $50 and play it up to $500 in 2024-2025
Crypto is the future, so are crypto scams, exchange insolvencies, thefts, lost private keys, and pump and dumps. Use Caution and Dilligence.
Local Coinbase support should be around 35-38 and upper resistance around 84-88 bucks
MarkupAs you can clearly see with a finished penalty and marked bullish momentum noted on rsi with respect to price level with highest closes on nearly all time frames with all moving averages rolling up. 190 minimum. Maximum for 2023 probably 400s but I'm only half psychic 🔮
Coin to 44 maybe 38Okay congrats, this is the one wave I didn't ride up, and I am slightly tilted because i saw it coming at 50 bucks in one of my prior posts.
that being said, this is peak euphoria, and if its turning back, now is the literal final reversal point.
if we break through here, then its straight up headed for 200+
I don't think were going for a 200+ yet, so I have to draw the conclusion were going to FINALLY have a backrest of the spring.
The news cycle was absolutely awful at the bottom, and it will be absolutely amazing at the top.
every major asset manager in the world choosing coinbase as partner for etf seems like peak news. SEC still views coinbase as an illegal bucket shop. I am VERY skeptical that any of these ETF will pass. and if not, then watch out below.
I am under the impression there will be years, or at best months more of consolidation due to legal problems, which i do think coin has a good chance of winning.
COIN This range has to maintain above 74-78 an break above 81 to retest 84 for the next couple weeks. With continuation to august this could reach 100 watching the range if it breaks 88-93 to confirm the potential run up
COINBASE: Will it finally cross over this potential Triple Top?Coinbase reached the top of the annual Channel Down pattern with the 1D technicals turning overbought (RSI = 75.832, MACD = 4.640, ADX = 42.237). For the RSI in particular, the last time it was higher was on February 2nd. This calls for a short term correction to at least the 1D MA200 (TP = 60.00). Even in the event of a crossing over the Channel Down, the price will still have to face the potential Triple Top of Resistance Zone 1. We will go long only after the price breaks above it and target the R2 (TP = 116.00). It has to be said that the RSI breaking above the 5 month LH trendline, is an early indication of the long term trend.
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Coinbase (COIN) on Upward Trend and Heading to 2023 ATH (Long) Recent ETF filings have placed Coinbase alongside serious financial players such as Blackrock. BlackRock has announced its plans to conclude a monitoring agreement with Coinbase , thereby addressing a key concern previously voiced by the SEC in its rejection of Bitcoin spot ETF applications.
The fact that the SEC action is not scaring investors away, is a bullish sign in itself. However, as more and more traditional financial institutions name Coinbase as Surveillance Partner in Bitcoin ETF filings, the more the price of NASDAQ:COIN will keep rising.
In addition to the above, any upward movement of Bitcoin and crypto, in general, is set to benefit Coinbase with additional revenue, partnerships and extra value created for customers and investors.
NASDAQ:COIN is up 11% today, 25% this week and 119% up year to date, despite the SEC issues and the crypto downturn. Many things are pointing towards the direction that Coinbase is here to stay, that it will survive the regulatory onslaught and will come out even stronger.
A long here is a safe bet imo.
Coin in accumulation rangeCOIN ! in accumulation range let me know if you are bullish on this market
Coinbase moonshotMomentum shifting structure clearly defined on the weekly chart, also a nice harmonic to gauge take profits at. First target $200 and change.
Happy independence day.
COINBASE-SELL strategyThe chances are, a larger decline may happen in the near term. Technically we are overbought and requires adjustments.
The channel shows upper $ 75 and lower $ 63. The objective is then to SELL into strength when seen.
Strategy SELL @ $ 73-75 and take profit @ 64 for now.
COIN OUTLOOKWhat im looking for in COIN next week. Entry price for calls is 63.49 and price target is 67.30. Entry price for puts is 77.97 with a price target at 74.47
Coinbase Gravestone dojiDaily gravestone doji at logical resistance. Last time it did this we nuked.
Expecting the same here, after this exit scam pump we are head for 38 minimum. If not new total lows overall.. like 20's
