As I had pointed out in my BTC idea, I believe we are in a distribution phase. BTC will pull the rest of the market down along with it. Where there is panic, there is opportunity.
NFA.DYOR. Placed buy orders around $128. Can change, as PA develops.
Coinbase 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...
Introduction: 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...
Analyzing the options chain and the chart patterns of COIN Coinbase prior to the earnings report this week,
I would consider purchasing the 200usd strike price in the money Calls with
an expiration date of 2024-5-3,
for a premium of approximately $38.75.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Right now saying COIN or BTC is the same, if you want to know where the market is headed. Where Bitcoin goes, Coinbase follows.
Bitcoin is headed lower.
We are going to be looking at Coinbase (COIN) on the weekly timeframe.
First, we have the classic rounded top pattern, kind of like an inverted cup; we know this pattern to be a top signal.
➖ The week...
Why Coinbase Could Soar to $260 Post-Earnings
Coinbase, the renowned cryptocurrency exchange platform, has been making headlines with its impressive financial performance. As we approach the next earnings release, there’s a palpable buzz around the possibility of the stock price hitting the $260 mark. Here are some compelling reasons why this could become a...
Double 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....
Quick trade idea here. Price volatility is +/- $50 per month for COIN. So, 5/31 -6/07 is an adequate time frame for COIN price to enter our exit zone of the white box.
Red box is distrubition, green accumulation, exit white box. Simple, happy trading.
COIN Created an interesting bearish flag under the hourly timeframe where we may see another downside momentum. Expecting to see a breakout confirmation on the flag formed which can drag the prices toward the next support held at $194
As you can see when our Wyckoff Technometer registers oversold with a reading below 38 as marked with green highlights, it normally provides an excellent entry point.
Once again we are at .50 retracement of the previous rally, and a nice entry level.
Coinbase 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...
Fundamentals:
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...
NASDAQ:COIN shorts trapped after false breakdown. Price broke down both below the daily 50 sma (purple) and March 2024 low and then recovered. A trader bought a 275/277.50 bull debit spread risking over $200K and targeting near ATHs ($283.48).
The share has moved as expected, and looking at the chart, we should reach around $ 170-180. the pattern is "M-top" and neck line somewhere @ $ 240 area.
For now we are slightly oversold, and we could pullback to $ 250-250 before the decline will set in to 170.
Strategy SELL @ $ 245-250 and take profit @ $ 175. SL above $ 280.
