Bullish Continuation LikelyBack above the daily Cloud for COIN with a successful Falling Wedge breakout. Recent US regulatory clarity on ETH ETFs also positive news as COIN will be the custodian.
COIN trade ideas
COINStill has juice to go upwards, however this can go up and down with BITCOIN. Bitcoin is at 70K plus so it has a bull flag in my opinion it can still go up
Make me some COIN please! NASDAQ:COIN is in the cloud, if it breaks out above we are on for potential reversal
Already broken out of falling wedge
Stop loss set below the cloud if we get a close down there
NFA
COINbase Macro Analysis: To Keep You Informed Of OpportunityHi Guys! As always i try to bring ideas that catch my attention on the macro timeframes. The one that got my attention is Coinbase (COIN). Ive been tracking coinbase for some time now, ever since i discovered the Inverse Head and Shoulders pattern. (Ill be putting the link to that idea and others related to COIN below.
This current analysis will be assessing whether or not the Inverse head and shoulders pattern has more juice left or not in continuing the rally from the bottom at $31.00.
Pattern was confirmed when we broke the Head & Shoulders neckline.
This analysis is on the 1 week timeframe.
Some areas have been highlighted.
Major Resistance -> this is a critical area in my opinion, further gains being linked to us needing price to be ABOVE this lvl.
We are currently BELOW it.
But have not yet confirmed in my opinion.
Last weeks candle had equal top/bottom wicks, which usually means buyers and sellers were equaled out, not giving a direction.
We would need next week to play out in a more decisive manner. And for price to be ABOVE Major Resistance lvl.
We are also current ABOVE 21 EMA, as long as we stay ABOVE it, UPtrend is intact.
We've also had 2 Golden Crosses occur where 21 EMA and 50 SMA crossed ABOVE 100 SMA. As long as we stay crossed Uptrends tend to continue.
Ive also applied FIB retracement lvls from our current top to the bottom at $31.
We've been rejected from 0.786 lvl. Watch for a test of the 0.618 level which is known as the Golden Ratio. If 21 EMA is broken, it becomes more probable.
My personally opinion is that i think we will touch the 0.618 lvl.
We would need to maintain Support ABOVE here.
This area also coincides with a potential Consolidation range bottom.
Which I think is likely to be forming, as COIN tends to move like this as seen in previous history.
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Stay tuned for more updates on SNOW in the near future.
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DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
COINBASE POTENTIAL BULL SETUP SPOTTEDBullish pennant bull breakout spotted on #COINBASE stocks. Expectation of higher bullish sentiment could arise this week.
$COIN - bullish patternNASDAQ:COIN Weekly chart shows a wonderful pattern of bull flag finding support at what was once a resistance. If plays out as expected, another 60% move likely in the next 12-18 months.
$COIN Building Longs Starting to build a long position while keeping a close eye on BTC. Hard Stop at $150. Good RR. +EV
Coinbase updateCoinbase has been following my analysis for the most part for the last 2-3 weeks. We did get a slightly deeper move than anticipated, but EWT predicts "normal" moves/structure. It isn't a magic ball that predicts EXACTLY where price will move to. The strength today resembles that of a c wave. Because we were expecting a c wave, I am calling this C of c of (B). I am also of the mind that this is still the wave 3 which means we still have a 4 & 5 yet to come.
MACD is still looking strong too. There is a high chance we continue raising tomorrow in 3 with the possibility of starting wave 4 by EOD. We shall see but for now I am liking what I see.
upward channel the price is now moving in the upward channel and should be a profitable entry if anyone like this one ( IMHO)
COIN Explosive Bull Flag BreakoutI've had a close eye on this Bull flag for COIN because of the BTC strength as of late. Finally go the breakout today with a huge green day and it's still going after hours. BTC finally broke supply and is poised to head for an ATH retest.
Here are some potential areas of support and resistance along with some paths moving forward. Ideal setup would be to get a long on the retest of the bull flag, but it may be quite some time before it pulls back that far.
Coin breaking resistanceCoin is breaking the resistive area I had highlighted on the EMA bounce chart. I marked the area I had mentioned in the previous chart with a green arrow. I expect coin to rally to the topside of the teal resistance line, I marked this with the green circle.
Short-Term Target: 245-250$
Medium-Term: Another test at 274$
End of Year 350-400$
COIN - Long but WORTH IT video (if you like my analysis..)If you watch my videos and appreciate my analysis - this one's for you. Not so much for coin as it is for understanding what to be seeing and how to building and understanding algorithmic flow and control in the market.
However it is a great COIN opportunity...
As always, I'm here for all of you so please feel free to reach out with any questions, thoughts, or requests
Also - The name of this triple lineup of algorithms is called "The Triage" TM
Happy Trading :)
- TraderDaddyOG
COIN hidden weekly RSI convergenceInterestingly, COIN is showing both a bearish regular RSI divergence AND a hidden bullish divergence on the weekly.
Seeing as the latter has formed more recently, I tend to think we might see a rebound here rather than a bearish continuation, but it could all hang in the balance of the upcoming SEC Ethereum ETF decisions.
Coinbase and ETH remain closely tied. If all ETF submissions get rejected then we may see Coinbase fall briefly in tandem. But, if by some miracle, Gensler decides to approve them, I think we could see COIN rally up toward $350.
Keen to watch and see how this plays out.
Coinbase (COIN) Stock Price Holds at Key Support LevelCoinbase (COIN) Stock Price Holds at Key Support Level
On Thursday, stock market traders were concerned about the sharp drop in Coinbase shares, listed on the Nasdaq, which fell by 9%. This was triggered by rumours that the Chicago-based CME Group is planning to launch cryptocurrency trading, posing a challenge to Coinbase, currently the leading cryptocurrency exchange in the US.
It is worth noting that CME already trades Bitcoin futures (since December 2017) and Ethereum futures (since February 2021). Is it possible for CME to launch spot cryptocurrency trading?
On one hand, interest in the cryptocurrency market has surged in 2024, with Bitcoin’s price up approximately 58% year-to-date, and around 146% over the past 12 months.
On the other hand, CME Group, as the world’s largest operator of exchange-traded derivatives, is considered a fundamental part of the US financial system. The SEC is unlikely to be favourable towards initiating cryptocurrency trading there, given their reputation for high risk.
Nevertheless, the sharp decline in Coinbase shares on Thursday did not continue into Friday.
Technical analysis of COIN shares shows that:
→ Friday's closing price is higher than Thursday's, and Friday's low is above Thursday's low, indicating that the bearish momentum has eased;
→ The price is at a crucial support level of $200 per COIN share. This is not only a round psychological mark but also near the 50% retracement level after the A→B impulse rally. Additionally, the price is near the lower boundary of the upward channel shown in blue.
Given the above, it is reasonable to assume that bulls may attempt to resume the upward trend by breaking the red resistance line, marking a pullback within the multi-month rally.
However, the inability of bulls to "bounce" from the $200 level per COIN share could indicate a potential decline to the lower boundary of a less steep upward channel (shown in green) around $150 per share.
According to TipRanks, the average target price for COIN shares is $250 over the next 12 months.
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Coinbase UpdateCoinbase has been very volatile as of late. Rather that be due to BTC or other factors IDK. What I can say though is that the weekly MACD is pointing down and the daily MACD is leveling out. The 4Hr MACD is green but looks neutral to me. Its 1Hr MACD is showing weakness but points higher due to the last high it made. Micro MACD's showing high probability of moving higher and the microstructure points higher too.
At this time, I still feel we're headed back up to the target box. The green fibs are tracking this. Notice how the 1.236-2.0 are ALL in the grey box. If you remember correctly the only common end point not in the box is the 1.0. If I had to choose the most probable end point before another move lower, it would be the 1.618 @ $248.92. tomorrow will be interesting to say the least.
Small Acount Challenge Day 4 Recap - SPY CallsAnother choppy day, ended up near breakeven on the day after 2 trades. I don't mind having a breakeven day, much better than a losing one.
Somethin will happenBullish flag, a big one is forming. If you like crypto this is a must. Buy now, and keep buying at every dip. This could blow up the entire place at any time in the upcoming weeks. SL triggers if a weekly candle breaks down the support zone and closes below it with tons of volume.
COIN Bull Flag Breakout Seems Imminent Today was a huge day for BTC and COIN. I've been calling for BTC to $100k for months. BTC already had a bull flag breakout of its own and now it's COIN's turn.
(COIN) coinbaseRed line connects two points based on exponential moving averages. I don't use SMA and have read that weighted is better than exponential. Hull is better than both and Alma is a modern take only created within the last 20 years. I suppose it all depends on what moving average line the person buying uses to base their decisions. If a super rich person uses Simple Moving Average and I'm using something else, will we both see the same thing? Also, why would someone educated and wealthy use something called "simple moving average?" If you were wealthy and educated what would you use?
Coin 100 EMACoin should bounce here on the 100 EMA after a 30% drawdown from the local high. With BTC price action undecided there has been a major selloff despite amazing earnings. As the ETF picks up heat Coinbase will benefit alongside Base and other growing areas of the company. This is still my largest winner in long-term portfolio at this point. The stochastic appears fully reset as well, this signals a likely reversal soon.
(COIN) coinbase I think the price of Coinbase will go up at the moment. It is a stock so nothing tomorrow because of Sunday May 12th 2024. I meant the following monday and week.
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.
BTC repeating history to 500Using Fibs and previous history I show the possibility that Coinbase is about to start wave 3 of 3 up towards 500.
