Bullish for Coinbase COIN
Updated
Potential LONG position on Coinbase COIN
Technical Analysis:
1. Recognizing price trading in trend.
2. Looking for price to bounce in Demand Zone
3. Looking for RSI to be oversold
4. MACD just crossing 0 line.
Fundamental Analysis:
Positives-
1. Crypto prices low
2. COIN makes money from trading fees (retail trade markets at all time high)
3. Earnings expectations have risen considerably over 3 month period, lower than previous quarter estimates. (more margin potential to beat conservative current estimate)
4. Current price considerably lower than institutional price targets
5. Significant exposure to crypto markets by major institutions over several months.
Negatives-
1. Last Quarter missed estimates
2. Crypto prices declined significantly from highs
Potential Trade Ideas:
Entry @ $220 - 210
Take Profit @$270 - 280
Will wait for signs of bottom & go LONG reversal.
Tight stop-loss.
Will trail this trade with stop to lock in profits. Possible resistance @ $250.
Technical Analysis:
1. Recognizing price trading in trend.
2. Looking for price to bounce in Demand Zone
3. Looking for RSI to be oversold
4. MACD just crossing 0 line.
Fundamental Analysis:
Positives-
1. Crypto prices low
2. COIN makes money from trading fees (retail trade markets at all time high)
3. Earnings expectations have risen considerably over 3 month period, lower than previous quarter estimates. (more margin potential to beat conservative current estimate)
4. Current price considerably lower than institutional price targets
5. Significant exposure to crypto markets by major institutions over several months.
Negatives-
1. Last Quarter missed estimates
2. Crypto prices declined significantly from highs
Potential Trade Ideas:
Entry @ $220 - 210
Take Profit @$270 - 280
Will wait for signs of bottom & go LONG reversal.
Tight stop-loss.
Will trail this trade with stop to lock in profits. Possible resistance @ $250.
Note
Looking for double bottom for entry. Waiting for strong bottom wicks.Note
Perfection!Note
Looks like a nice retracement to a solid entry point for another long position. Tight stops.
Patience is KEY!
Trade active
🚀🚀
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