Here's a fun Wyckoff-inspired take on Coinbase Global (
COIN) over the past few years, mapping its weekly chart to the classic Accumulation Schematic. Wyckoff's method, envisioning the "Composite Man" quietly scooping up shares during weakness before blasting off... fits COIN perfectly, especially in crypto's wild swings.
We can see a textbook multi-year accumulation from mid 2022, a breakout into markup in 2024, and even a cheeky re-accumulation mid-2024 to fuel the latest highs.
Phase A: Stopping the Downtrend
After the initial IPO Coinbase experienced quite a bit of downside pressure.
Eventually price began to range between $40 and $100.
Phase B: Building Cause
Months of boring sideways chop.
Sellers exhausted because let's think for a moment... If crypto was truly going to stick around - how much lower could this thing go?
Smart money absorbs.
Phase C: The Trap
That shakeout low at ~$32 in early 2023. If you study Wyckoff, this is Schematic #1 vibes.
Phase D: Demand Dominates
Explosive rally (SOS) to ~$280 in early 2024, breaking the range on surging volume.
Mid-2024 pullback to ~$150 acts as a mini Re-Accumulation with its own LPS at the low. Higher lows / mitigation confirm no real distribution yet. Another SOS post-re-accumulation, pushing toward $400+.
Phase E: Markup Phase
Where will the composite man be eyeing for the next target?
Overall, Crypto adoption's heating up (BTC ETF flows, regulatory, etc), and the chart's still in a strong uptrend. But remember, Wyckoff's not crystal ball... it can however be used as a roadmap to navigate the chart.
Fun fact: COIN often mirrors BTC, so keep an eye out for correlation.
What's your opinion - accumulation complete or more shakeouts ahead? 🚀📈
Disclaimer: Not financial advice; DYOR! Chart based on weekly data up to July 2025.
COIN) over the past few years, mapping its weekly chart to the classic Accumulation Schematic. Wyckoff's method, envisioning the "Composite Man" quietly scooping up shares during weakness before blasting off... fits COIN perfectly, especially in crypto's wild swings. We can see a textbook multi-year accumulation from mid 2022, a breakout into markup in 2024, and even a cheeky re-accumulation mid-2024 to fuel the latest highs.
Phase A: Stopping the Downtrend
After the initial IPO Coinbase experienced quite a bit of downside pressure.
Eventually price began to range between $40 and $100.
Phase B: Building Cause
Months of boring sideways chop.
Sellers exhausted because let's think for a moment... If crypto was truly going to stick around - how much lower could this thing go?
Smart money absorbs.
Phase C: The Trap
That shakeout low at ~$32 in early 2023. If you study Wyckoff, this is Schematic #1 vibes.
Phase D: Demand Dominates
Explosive rally (SOS) to ~$280 in early 2024, breaking the range on surging volume.
Mid-2024 pullback to ~$150 acts as a mini Re-Accumulation with its own LPS at the low. Higher lows / mitigation confirm no real distribution yet. Another SOS post-re-accumulation, pushing toward $400+.
Phase E: Markup Phase
Where will the composite man be eyeing for the next target?
Overall, Crypto adoption's heating up (BTC ETF flows, regulatory, etc), and the chart's still in a strong uptrend. But remember, Wyckoff's not crystal ball... it can however be used as a roadmap to navigate the chart.
Fun fact: COIN often mirrors BTC, so keep an eye out for correlation.
What's your opinion - accumulation complete or more shakeouts ahead? 🚀📈
Disclaimer: Not financial advice; DYOR! Chart based on weekly data up to July 2025.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.