Coin Base I think I am bullish With what is going in currently in the market place I am looking at the market going bullish on coin base. I would like to see this play out.
I am very interested in this price action as I have seen there is a large number of investors that have money on the exchange but also is a gateway to get to the buying and selling of crypto so with that being said I see that the market is about to get interesting but would like to know your thoughts comment below but for sure I am bullish for the month once we have retested the low I highlighted.
What do you think?
COIN trade ideas
Coinbased poised for short as SEC attacks BinanceWith Binance being sued by the SEC for several violations and the SEC declaring 10 main cryptocurrencies as securities the sector is poised to suffer considerably. CRYPTOCAP:BTC is already down by 6% on this news and the situation is going to worsen in the coming days. The political landscape in Washington wants crypto gone. Whether this will succeed or not, it is meant to push all prices down for a considerable period of time. NASDAQ:COIN is not going to be in a good place as it is involved with most of the tokens below that are now all in trouble.
Alleged securities:
CRYPTOCAP:SOL
CRYPTOCAP:ADA
CRYPTOCAP:MATIC
TSX:FIL
NASDAQ:ATOM
NYSE:SAND
EURONEXT:MANA
EURONEXT:ALGO
NYSE:AXS
ECONOMICS:COTI
whatthefinance.com
RectangleNeutral pattern until cleanly broken.
Short entry is a clean break of the bottom line with a confirmed downtrend.
Price is below the support line but some look for 2 closes below the line for confirmation.
Once the bottom line or the support line is broken it becomes resistance.
Volatile stock as a rule.
No recommendation.
Life is choices.
Short interest is over 20%
52 Week Range
31.55
116.30
Day Range
46.43
52.38
EPS (FWD)
-2.81
PE
-
Div Rate (TTM)
-
Yield (TTM)
-
Short Interest
20.30%
Market Cap
$15.14B
Volume
50,212,062
potential long setup Over the weekend crypto made a solid move to the upside. ill know be looking for Coinbase to follow suite. Price gapped up this morning and is currently trading sideways on the LTF. Normally id be looking for a pullback at market open before taking an entry but the opportunity may not present itself.
Im looking at the $59 and $60 calls expiring 6/2/23
Price target: $65.00
COIN Half LifeCOIN has been stuck in a downward channel since it's IPO loosing 90% of it's value. However in that time there have been 3 BUY opportunities returning +50%, +50% and +100% respectively... and they all seem to appear at key levels based on 50% downward movements.
Are we going to see some similar action moving forward ? so $30 and $20 levels might be key to watch.
COIN TRADEI believe Coinbase inc. has very good potential of growing to my TP, this is a long term trade as the main reason it is down is because its link to the cryptocurrency market and not because of the actual company itself. If we see the company it has very good numbers, they are trying to be firm on the regulatory side. I believe as US company it has good potential to keep growing.
$COIN Short NASDAQ:COIN
I like the Idea of Shorting Coin.
Nothing to complicated guys and girls.
$55 short to a Target Fib Level of $52.84.
- Friday close was bearish with huge selling volumes end of day
- Stochastic RSI is forming an indicative pull back move
- RSI 14 Day Average shows trend breakdown with low buying resistance and higher selling resistance picking up
- AD / DX turning bearish with red bearish line resembling confluence/diversion to a bearish move up of the red line.
- Trading below 20/50/100 SMA already
Trade Idea with Options Derivatives is Puts, ideally in the money $55 and to $50, this is the trade for this week 22nd May 2023.
For confirmation must watch NASDAQ / Tech 100 and Bitcoin for confirmation.
I would be also watching for weakness in Crypto mining stocks, there was plenty of covered call selling on NASDAQ:MARA $9 for many weeks and it seems that buyers are exhausted. A break of $9 should see a move down to $8.50.