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COIN trade ideas

COIN - breaking out of symmetrical triangle patternOn a daily time frame as well as on the weekly time frame, COIN is breaking out of the symmetrical triangle pattern. Earlier, COIN tried to break the upper trend line multiple times but couldn't close above the trendline on a daily closing basis. On last Friday (07/19/2024), COIN closed above the trendline confirming the break out. Plan for me: I would be interested to go long in case we get a pull back to 255/250 area and COIN holding that levels. Possible targets for me Target 1 - 265 Target 2 - 275 and ATH level test Stop loss would be loss of 247 on a daily closing basis. Something to keep a note of, COIN has ER on 02Aug2024. PS: Point of entry for me depends on where we open on Monday in case we gap up
NASDAQ:COINLong
by adkis
1
COIN (Long) - Rearing its bullish head Mentioned several times across my charts, but still important to mention, I am a strong proponent of simple charts , preferring to rather watch price action for days on end - the robust reversal in crypto and this NASDAQ:COIN 's nearly perfect base are hard to miss Fundamentals For those who don't know, in the last few weeks, crypto has exhibited some of the lowest correlation with broader stock market ever, consolidating when market was rallying, and recently, surging higher while market was falling. Although we cannot completely discount stock movement (Coinbase is after all a stock), the directionality of the crypto markets seems to have the upper hand with stocks like NASDAQ:COIN and NASDAQ:MSTR In more granular terms, the firm has been performing strongly , with a swarm of institutional clients (selecting Coinbase as the most trustworthy custodian), robust revenue growth (50% in the last 12 months) and impressive profitability (net profit margins above 25%) The valuation is not cheapest, but we know better than to be scared off by P/E between 40-50 (read William O'Neill for more info on this)... but this is not what attracted me to Coinbase this time - that will be the chart Technicals Firstly, crypto charts, mainly Bitcoin CME:BTC1! , look strong - orderly accumulation with potental for new highs going into the election (seasonally strong period) Strong, round accumulation base , although I would have liked one more leg down to the base before the breakout, but asking for perfection is not how markets work RSI is positive and rising (though a little choppy) while the distance from moving averages gives you good risk/reward and historically marks breakouts (doesn't mean that will repeat!) Strong base, robust momentum, good group performance (crypto) and incoming catalyst (earnings) I have entered the trade today, exactly on the breakout. Personally, I will use the entry (purple line) as a stoploss, potentially re-enter if the pattern allows it. Timeframe is 3-4 months. Alternatives include (i) waiting for a break on earnings (ride the momentum, more certainty, but less potential for appreciation), (ii) waiting for the break of the higher high (better confirmation of the breakout or (iii) use the bottom of the base for stoploss (higher risk preferences). Fake breakouts and slumps on earnings should be used to exit. Hope this gives a good overview. I believe the seasonality (high spending around elections = political window-dressing) favours both crypto and stocks for medium-term outlook (and I understand how frustrated everyone is that we haven't had a crash - don't forget, pessimism will lose you money 90% of the time. If you like my content, Please leave a like, comment or a donation , it motivates me to keep producing ideas, thank you :)
NASDAQ:COINLong
by jurajholik
2
Coinbase UpdateThere are multiple different counts/pathways that price could take from our current position. Crypto has continued to rise over the weekend so I find it highly probable that Coinbase will open higher and very possibly have another big day tomorrow. The question is, will that last? Now for the possible pathways that price can move from here. As you can see there a couple turquoise labels on the chart. These are my ALT counts as of now. What they are suggesting is that wave (B) wasn't quite done yet and we're now in minor wave C of (B). If price breaches our last high of $263.77 this will become my primary. Until price can breach the primary wave ((3)) high of $287.46, this is still a valid count and will remain my primary until/unless price can breach that high. I have redrawn the retracement fibs on the chart and the 0.786 @ $267.12 is the next main line of resistance. I have also drawn green extension fibs on the chart which govern the abc pattern should this still be in wave (B). My white count on the chart, is still my primary and structurally is still 100% valid. However, unless BTC starts to tank overnight, I feel my ALT will become my primary count. We will have to wait until tomorrow for the answers we seek, but nonetheless, I feel we should get some answers as to our immediate pattern at the least.
NASDAQ:COIN
by TSuth
6
Coinbase Climbs as Bitcoin Hits Two-Week HighWith Bitcoin surging to two-week highs on Monday, we’re going to shine a spotlight on the world’s largest cryptocurrency platform: Coinbase. Trump Seen as Pro Crypto Candidate Monday’s rally in Bitcoin can be attributed to the attempted assassination on former President Donald Trump over the weekend. This incident has increased the likelihood of Trump winning the upcoming US presidential election, which traders view positively for the cryptocurrency market. Trump, who is the presumptive Republican nominee, has been vocal about his support for cryptocurrency. He has hosted industry executives at Mar-a-Lago, endorsed US-based Bitcoin mining, and his campaign has accepted cryptocurrency payments, a first for a major US political party. This pro-crypto stance has fuelled optimism among investors, driving Bitcoin's price higher and subsequently boosting related stocks like Coinbase. Coinbase's Market Reaction As Bitcoin rallied, so did Coinbase. The largest centralised digital asset exchange in the US saw its shares leap 12%, marking its best performance since February. This surge underscores the symbiotic relationship between Bitcoin prices and the fortunes of crypto exchanges. In the first quarter (Q1), Bitcoin alone accounted for 33% of trading volume on Coinbase, highlighting its critical role in the exchange's ecosystem. Technical Analysis of Coinbase Coinbase's share price has been trending higher over the past year, with broken resistance levels often serving as support. Several technical indicators reflect this strength: • Moving Averages: The 50-day moving average is comfortably above the 200-day moving average, indicating a strong upward trend. • Price Action: Coinbase's price action cycles between sharp, volatile moves higher and periods of choppy sideways consolidation. After a significant rise in Q1, Coinbase spent Q2 forming a wedge consolidation pattern, moving sideways. • Recent Performance: Monday's surge, backed by increased volume, has pushed prices toward the top of the wedge. A breakout from this wedge could signal the start of a new upward trend leg. COIN Daily 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. 80.84% 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 #COIN priced in #Bitcoin 3X outperfromanceShould u just buy Coinbase stock rather than the go through the hassle of Buying , storing, off-ramping profits back to your bank. It is far easier for big money who want some crypto exposure to just buy crypto stocks. All in their familiar regulated platform, hence why the Spot ETF is so important... But who are the custodians Blackrock is entrusting to hold their #BTC..... Coinbase This will be a big money maker for Coinbase and hence why it could actually overperform and get back to all time high's in the next two years.
NASDAQ:COINLong
by BallaJi
3
Coinbase UpdateIt never fails, when I make a post on here some people think we can only move in one direction. Any slight deviation and they come running trying to say the whole analysis is wrong. These few individuals are small minded and no matter how many times I repeat it, they don't seem to comprehend that charts move in cyclical patterns. Just because we get a move higher doesn't mean we won't head back down. According to RN Elliot, price moves in corrective and motive waves. For instance, C waves can either be a larger 3-wave corrective pattern or 5-wave impulsive pattern. In this particular instance, Coinbase is carving out a larger 3-wave corrective pattern. Looking at my chart, you can see we have carved out the intermediate (A)-(B) waves and have begun wave (C). The (C) wave is creating a larger 3-wave pattern which is indicated by the minor A-B wave labels. A wave is already complete, and we moved into my target box for wave B. B most likely isn't yet complete and is targeting the area of the 0.786 @ $250.62. This doesn't mean price cannot move higher than that. It is simply implying that this is the "standard" ending for this type of pattern. Once wave B does conclude, we should head lower for wave C of (C) of ((4)). That target for me hasn't changed for over a month now. Once we carved out the (A)-(B) waves we created that target area. The only thing left to do is track the (C) wave down to get more of a refined target. As of now, it looks like wave ((4)) will be targeting the $160-$170 area for completion. We won't know for sure though until minor wave B finishes. I think that once BTC and the other major cryptocurrencies finish their respective retraces higher, Coinbase will be sure to follow. We all know how volatile crypto can be too. So don't be surprised when Coinbase starts to drop soon. P.S: Germany, along with many other countries have been liquidating their BTC. I wonder why and how that will affect Coinbase???
NASDAQ:COIN
by TSuth
13
Coin reset 100 EMA before earningsCoin has been a story of rapid pumps upward and then slow downfalls into accumulation. I have two previous ranges highlighted here coinciding with the 100 EMA touches (support). There is a ton of contraction of price in between the red resistance and multiple supports. The weekly stochastic RSI has also been bottoming, I call for expansion here. If we are to repeat this cycle again the break of this downtrend should be very soon. Remember Coinbase now is the custodian for many of the BTC within ETFs (blackrock). This should add to revenue alongside their other metrics. -Target 1= 248$ -Target 2= 279$ -Target 3= 302$
NASDAQ:COINLong
by Apollo_21mil
COINBASE targeting $470 after this accumulation is over.Coinbase Global (COIN) has been consolidating around its 1D MA50 (blue trend-line) since late May. The long-term trend remains bullish (since the January 2023 bottom) and is best illustrated by the use of the Fibonacci Channel. Right now the price is exactly on its middle (0.5 Fib level). The stock is no stranger to consolidations like this as within this Channel Up pattern, it has seen another 3 similar Accumulation Phases (green arcs). The minimum rise following such a phase has been +146.82% and it has so far happened twice. The last Bullish Leg is such an example. Technically, the current Accumulation Phase resembles more the one that ended in October 2023. The next time we close a 1W candle above the 1D MA50, COIN will most likely confirm the start of the new Bullish Leg. If we assume it will again rise by the 'minimum' +146.82% rate from May's Low, then expect a direct hit this time at the top (Higher Highs trend-line) of the Channel Up. Our Target is $470.00. ------------------------------------------------------------------------------- ** 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
4
COIN - Time To Short This Great Crypto Stock I've been waiting a while for this one and now it is time to make a first short entry. The elephant in the living room is the big bad bearish divergence on the week chart. Apparently not many can see these divergences that stick out like a sore thumb but they have been very useful in knowing when to take profit. The coloured bands are of Golden Window Fibonacci extensions using the 3 trend based pivots at the start of the 2023 trend and also a reverse 2 point extension taking the accumulative summer '22 high and the bottom. Notice that the top is hitting exactly within these coloured bands. And so if that is a top then it is perfectly balanced in terms of ratio. I only took profit there as I suggested I might in the previous thread linked below. I didn't go short. But now it has printed a choppy ascending channel that can be a sign of upside weakness and the potential distribution shifting from bullish to bearish. Notice also that it may have topped within the retracement Golden Window; peaking at the 0.786 overshoot ratio. If the retracement has topped then that is more perfecto ratio. This whole bull trend has been the process of an ascending wedge with the top being that of a blow off phase. Due to this I think this should at some point capitulate through the lower trendline. In the end I think this will capitulate down to Accumulation support @ $116 and may even get back to the retracement Golden Window with the 0.618 @ $72. This may yet wobble around and could even print a slightly higher high, but it looks cooked I think and worth a short. If this plays out then buy-late-HODL-dreamers are going to get smashed. Client call: Not advice
NASDAQ:COINShort
by dRends35
24
COIN to Follow MSTR?Setups on COIN and MSTR are somewhat similar. Different in many respects because MSTR was at a high but very similar in the 4.23 extensions (Which often marks trend exhaustion). An additional factor to support the case for a possible reversal here is we have the 76 fib. If BTC breaks again, it's liable to make a really scary looking chart. And if that happens, bad things are coming for COIN. A very sharp return to those previous resistance levels.
NASDAQ:COINShort
by holeyprofit
5
$COIN - Playing in the Golden PocketOn the fibs, last time it went above .5, it went through the golden pocket and got rejected, then again, then it feel into a downard trend on the monthly. It's trying to break out of the downard regression, and is in the bullish channel, but is now facing rejection at the .5 fib again. Chance to break above and explore the golden pocket is possible, as well as a retracement to a lower fib level to consolidate more strongly to bust through it's original fib levels. Both fib level support areas on the monthly give a great range to trade both sides as this stock figures itself out. Earning coming up, and based on this last increase of crypto hype, coinbase is surely going to have strong numbers. Coinbase is also doing futures now, so it will attract retail gamblers, which could hurt and help coinbase, pending if people don't lose all their money if they would have just gambled going long like "the good ole' days" of limited crypto. For a hyper volatile market, new trading products serve to keep it volatile. Long term, bullish. It's a more robust system with the same affinity as HOOD Looking for longs and shorts to ride this thing on the way up not trade advice
NASDAQ:COINLong
by mike-ai-automation
The end of investing is here. Post-scarcity world economy beginsPost-scarcity economy is coming. No currency nor value in the future. Money is creating havoc in this world of competition and its coming to an end. Cost of living is free in the coming future so investing is a big waste of time and resources. As you can see the motivation in the markets is dying. Debt can no longer support the world economy any longer. The world is changing to save ourselves from extinction. No currency No investments No competition creates equality and richer lives with deeper meaning. There is no future if cost of living continues to rise and climate change affects global health and stability. A brave new world is about to happen and millions of wealthy people will not like losing there status. Enrich your lives and focus on reflection of ones self. Life is meaningless as a slave to cost of living. The End of value creation to promote wealth of knowledge.
NASDAQ:COINShort
by UnknownUnicorn35774657
5