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COINBASE GLOBAL INCCOINBASE GLOBAL INCCOINBASE GLOBAL INC

COINBASE GLOBAL INC

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$COIN Inverse Head & Shoulders### Technical Analysis Update: Coinbase Global, Inc. ( NASDAQ:COIN ) – Inverse Head & Shoulders Pattern on Weekly Chart Coinbase Global, Inc. ( NASDAQ:COIN ), a prominent player in the cryptocurrency exchange market, is currently exhibiting an intriguing pattern on its weekly stock chart. The chart reveals an inverse head and shoulders formation, a technical pattern that often signals a potential bullish reversal. However, this pattern is contingent on the stock maintaining certain price levels. #### Understanding the Inverse Head & Shoulders Pattern The inverse head and shoulders pattern, observed in a downtrend, is characterized by three key components: 1. **The Left Shoulder**: A low point in the stock's price, followed by a rebound. 2. **The Head**: A subsequent lower low, creating the deepest point of the pattern. 3. **The Right Shoulder**: Another low point, though higher than the head, indicating potential reversal momentum. This pattern is deemed 'inverse' because it's the opposite of the traditional head and shoulders pattern, usually seen at the end of an uptrend. #### Key Level for NASDAQ:COIN : The $47 Threshold For NASDAQ:COIN , the validity of this inverse head and shoulders pattern hinges on the stock’s ability to maintain a critical price level. A weekly close below $47 would invalidate the pattern, suggesting that the potential for a bullish reversal might be diminishing. #### Technical Considerations for Investors - **Pattern Confirmation**: A crucial aspect for confirming the pattern is the stock's ability to stay above the $47 level. Investors and traders should monitor this closely, as a sustained price above this point could indicate the likelihood of a bullish trend reversal. - **Volume and Momentum**: Alongside the price level, trading volume and momentum during this period are important. An increase in volume as the stock approaches and surpasses key resistance levels can further validate the pattern. - **Price Targets Post-Confirmation**: Should the pattern be confirmed, the depth of the head can be used to project potential upward price targets. This is achieved by measuring the distance from the lowest point of the head to the neckline and extending that distance upward from the breakout point. - **Risk Management**: In case the pattern is invalidated (i.e., the price falls below $47), investors should reassess their positions and strategies, considering the potential for continued bearish trends. #### Conclusion The inverse head and shoulders pattern on NASDAQ:COIN ’s weekly chart offers a framework for assessing future price movements. However, the $47 level emerges as a critical juncture. A sustained position above this level could bolster confidence in a bullish reversal, while a fall below could signal the need for a strategy reevaluation. As with all technical analysis, this pattern should be considered in conjunction with broader market trends and analyses.
NASDAQ:COIN
by AlgoTradeAlert
Coinbase (COIN: NASDAQ)Coinbase (COIN), a crypto financial infrastructure provider, is expected to maintain stability in interest income, especially with the stability of USDC market capitalization in Q3. The anticipation of the first-ever spot Bitcoin ETF for the U.S. market and the upcoming Bitcoin halving event in April 2024 are considered bullish factors. The launch of the ETF could boost Bitcoin prices and attract retail investors, while the halving event is expected to generate significant attention in the crypto space. The recommended bullish stance on COIN is contingent on the stock staying above the $67.50-$68.00 level, with an upside target at $114.00-$115.00.
NASDAQ:COINLong
by Richtv_official
RECTANGLEAlso known as a horizontal trading range and is considered to be a consolidation pattern. The top line (red) is resistance. A break of this line with an uptrend is considered to be EL. The bottom line is support and a break of this line with a downtrend is used as ES. Targets over the structure in green are for a break to the upside. T1 is larger type than T2 and so on. Sometimes all we get is T1 either way this breaks. Some would trade inside the rectangle. Price is at a resistance level today. No recommendation.
NASDAQ:COIN
by lauralea
Coinbase Global Inc (COIN) Reports Q3 2023 EarningsKey Takeaway a. Net loss of $2 million reported for Q3 2023, with positive Adjusted EBITDA for the third consecutive quarter. b. Total revenue of $674 million, a decrease of 5% Q/Q, with net revenue of $623 million, down 6% Q/Q. c. Strong balance sheet with over $5.5 billion in USD resources, an increase of $20 million Q/Q. Continued focus on product development and regulatory clarity, with new licenses obtained and innovative products and services built. Coinbase Global Inc (NASDAQ:COIN) released its Q3 2023 earnings report. Despite a challenging market, the company reported a net loss of $2 million and a positive Adjusted EBITDA, reflecting the company's resilience in all market conditions. The company also reported a strong balance sheet with over $5.5 billion in USD resources. Financial Performance and Challenges For Q3 2023, Coinbase Global Inc (NASDAQ:COIN) reported a net loss of $2 million. Despite this, the company generated a positive Adjusted EBITDA for the third consecutive quarter. Total revenue was $674 million, down 5% Q/Q, while net revenue was $623 million, down 6% Q/Q. Total operating expenses were $754 million, down 4% Q/Q. The company's balance sheet remained strong with over $5.5 billion in USD resources, which increased by $20 million Q/Q. Financial Achievements Despite the net loss, Coinbase Global Inc (NASDAQ:COIN) reported several financial achievements. The company generated a positive Adjusted EBITDA for the third consecutive quarter. The company's balance sheet remained strong with over $5.5 billion in USD resources, reflecting the company's financial strength and stability. In Q3, the company repurchased $263 million of its 2031 Senior Notes at an approximately 33% discount to par value or $177 million in cash. Product Development and Regulatory Clarity In Q3, Coinbase Global Inc (NASDAQ:COIN) continued to focus on product development and regulatory clarity. The company obtained new licenses that enabled it to access new markets and deliver new products. The company also continued to drive toward regulatory clarity in the US and built innovative products and services in the areas of derivatives and layer 2 solutions. What To Expect Looking ahead, Coinbase Global Inc (NASDAQ:COIN) expects Q4 subscription and services revenue to be approximately flat with Q3. The company anticipates Q4 technology & development and general & administrative expenses to be $525-$575 million. The company also expects to generate meaningful positive Adjusted EBITDA in full-year 2023.
NASDAQ:COINLong
by DEXWireNews
Crayon EaterI ate all of the crayons In a world of hues both wild and bright, I nibble crayons, a curious delight. Their waxy secrets unfold in my grin, A kaleidoscope journey about to begin. I taste the reds, a fiery kiss, Scarlet whispers in each crayon's twist. And as I chew on the cobalt blue, Electric visions burst into view. Emerald greens, they dance and play, In my mouth, they find their way. With every bite, a taste so sweet, Fractal dreams begin to meet. Colors melt like honeyed streams, Awakening a world of vibrant dreams. As I consume the yellow sun's embrace, Fractals swirl in an intricate chase. Indigo, a mysterious night's caress, In my mouth, it's a tranquil mess. And with each crayon I consume, Fractals bloom like cosmic plume. Vivid oranges, like a summer's day, In my mind, they begin to sway. The taste of art, both wild and free, Unleashes fractals for my eyes to see. In this union of taste and sight, I savor colors with sheer delight. Eating crayons, a creative spin, Unveils a world of fractals from within. As I munch on colors, my senses unite, In a symphony of flavor and light. Through crayons and fractals, I transcend, To a realm where imagination knows no end.
NASDAQ:COINShort
by bluedog360
5
COINBASE ready for a new rally.Coinbase turned bullish on the 1D technical outlook (RSI = 63.427, MACD - 1.240, ADX = 25.992) as it is on the 5th straight green day since the 1D MA200 rebound. This was also near the bottom of the year long Channel Up, so the probabilities for a new rally/ buying wave like January and Jun/ July are increased. The key here is to hold the 1D MA50. If the stock doesn't break it, we will stay bullish and target the -0.236 Fibonacci extension (TP = 140.00) similar to where the July 14th top was priced. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NASDAQ:COINLong
by InvestingScope
COINBASE - BULLISH SCENARIOCoinbase (NASDAQ: COIN) exceeded Q3 expectations with a better-than-expected EPS and revenue. However, it saw a second consecutive quarter of declining trading volumes, causing after-hours shares to drop over 4%. In Q3, EPS was ($0.01), surpassing the consensus estimate of ($0.55). Revenue reached $674.15 million, beating the consensus estimate of $650.97 million but declining 5% from the previous quarter. Q3 total transaction revenue fell 12%, with a 17% drop in total trading volume. Q3 subscription and services revenue remained flat at $334 million. For Q4, the company expects subscription and services revenue to stay roughly the same as Q3 and transaction expenses as a percentage of net revenue in the mid-teens. Coinbase aims to achieve meaningful positive adjusted EBITDA in 2023, revising its goal from improving 2023 adjusted EBITDA in absolute dollar terms over 2022. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
NASDAQ:COINLong
by legacyFXofficial
Coinbase (COIN) Surges. Will it Surpass Expectations?Introduction: The stock price of Coinbase (COIN), one of the biggest cryptocurrency exchanges in the world, is making waves today with a remarkable 7.3% surge in anticipation of a crucial earnings call scheduled for 17:30 GMT-4. This event has captured the attention of traders and investors, and as the world watches, the burning question is whether Coinbase can beat the high expectations set by the market. Earnings Expectations: Market analysts are projecting that Coinbase's Q3 earnings report will reveal revenue of approximately $653 million and earnings per share (EPS) of -0.54. These numbers are indicative of both the potential and the challenges that lie ahead for this cryptocurrency exchange giant. Q3 Market Dynamics: Q3, unlike the previous months of July and August, was a relatively quiet period for Coinbase, with the crypto markets experiencing subdued activity. However, September marked a significant turnaround, with volatility levels rising notably. This shift in market dynamics could have a substantial impact on Coinbase's financial performance for the quarter. Custodian Role in ETFs: One intriguing development for Coinbase is its role as the custodian for all the bitcoin spot exchange-traded funds (ETFs) in the United States. This new responsibility presents exciting opportunities and potential growth for the American exchange. As the adoption of cryptocurrency ETFs continues to gain momentum, Coinbase stands to benefit significantly. Market Conditions: Furthermore, the broader stock market is also on an upswing today, with Nasdaq gaining 1.4%. Simultaneously, Bitcoin experienced a notable spike, briefly reaching $36,000 before encountering a slight dip. These positive market conditions might be contributing to Coinbase's impressive stock price performance. Comparative Performance: In the context of the past month, Coinbase's stock price has risen by a respectable 10%. However, this gain pales in comparison to Bitcoin's impressive 27% increase over the same period. This discrepancy raises questions about whether Coinbase can catch up with the soaring performance of the world's leading cryptocurrency. Conclusion: As the clock ticks down to the eagerly anticipated earnings call, all eyes are on Coinbase. The financial results unveiled during this event will provide insights into the cryptocurrency exchange's health and resilience in a rapidly evolving market. Whether Coinbase can outperform expectations or merely meet them, its current surge in stock price is indicative of the market's optimism regarding its potential to capitalize on the evolving crypto landscape. Investors and traders alike will be watching closely to see if Coinbase can deliver on these expectations and continue its journey as a major player in the cryptocurrency industry. The world of cryptocurrency awaits the verdict on Coinbase's Q3 performance with bated breath, aware of the pivotal role it plays in the crypto ecosystem.
NASDAQ:COIN
by CryptoSnagger
COIN/USD Harmonic Possibility I posted recently something similar with LTC (Litecoin/USD) and this is basically the same concept but on a much larger scale, this being the weekly timeframe. The premise here is that from a center point, we can see as we scroll to the right of this weekly structure a sort of mirroring is happening. My guess would be the same way we expect any harmonic pattern to work. I could not exactly feel comfortable drawing any Bat or Butterfly harmonic patterns some may know it but I drew some... structural hotspots of when to expect this to move dramatically. Now based on some previous data I have seen on Bitcoin, I know that you can have seemingly a perfect reversal pattern from a pattern literally curving like a smile and still continue in the previously indicated direction. So I have simply expressed the points are major stress, it being the structural squeeze and some measurements based on the previous volume wells that led us to this moment. Either we hit $105 or we go to $35. I would extend the possibilities more but there are some structural interruptions that may be mirrored so the resistances or supports may be perceived fully from the squeeze this is probably going to have. Anyway just an idea.
NASDAQ:COIN
by bloodbound696
5
$Coin is in Trouble Headed into NFP next weekNASDAQ:COIN much like many of the crypto stocks pumps are steadily meeting strong resistance as the result of the sell down. Although Bitcoin and several crypto names went on a pump on etf news. There still a ton of downside that is likely to fill as we examine structure. 80-85 strong overhead resistance. Still trading within our strong weekly bearish engulfing candle (5 weeks now) Potential Bear Flag Under Resistance Next level of support is around $50. I would like Nov 24-Dec 1st puts to come active on this next week as we head into NFP. Ideal entries back around 80 NASDAQ:COIN
NASDAQ:COINShort
by Thecontrariandaily
1