📊 Coinbase ($COIN) Update
🔼 What's Boosting It?
1. Bitcoin Stability – $BTC is comfortably above $100K, bolstering sentiment for crypto equities like $COIN.
2. Rising Volume – Coinbase’s daily volume surged ~22% week-over-week, which suggests stronger fee revenue prospects.
3. Institutional Leverage – As a key custodian for major crypto ETFs (e.g., BlackRock), Coinbase benefits from increased crypto adoption.
4. Bullish Setup – Currently trading above its 50‑day MA (~$340), with a potential cup‑and‑handle pattern forming. A solid break above $360–365 could target $400 next.
⚠️ Risks Ahead
Regulatory Pressure – Ongoing SEC scrutiny may keep a lid on upside.
Crypto Correlation – A sudden drop in Bitcoin or Ethereum could drag COIN downward.
Momentum Fatigue – After the current rebound, a natural profit-taking pause may occur.
🔮 Price Outlook (3–7 Days)
Bull Case: Sustained BTC > $100K + volume momentum → COIN can climb to $380–400
Base Case: Range-bound momentum with sideways BTC → consolidates between $330–360
Bear Case: BTC dips to $95K or regulatory headlines emerge → test $310–320
🧭 What to Do
Dip Buyers: Look to establish positions near $345–350, with tight stops below $330
Breakout Traders: A push above $365 could open the path to $400+
Defensive Move: If Bitcoin shows weakness, consider $COIN puts or hedging via crypto ETFs
I'm not a financial advisor. Trade wisely, Comrades!
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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