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I think Coinbase is heading lower.

Por MikeMM

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Will update this periodically. Originally I was long, but now there is some evidence I will put together for you guys.

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annnnddd

twitter.com/brian_armstrong/status/1638654192138199041

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So I didnt know about the wells notice when I sold this stock, But I knew that insiders are having a hayday with this thing. I have found their signature in the charts and have learned from it.

Brain Armstrong has been nothing but a pain in the ass for shareholders. The guy had a 30% short float and didn't even attempt to squeeze them for us when we were at 88 bucks. That tells me there will be no opposition to shorting this shitcoin to 45 dollars, MINIMUM.

Bald man does not have what it takes to stop it.

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Bitcoin at 28k while coin at 67 makes no sense. Something has to give.

Bitcoin down or coinbase up.

Im thinking bitcoin down but obviously could be wrong.

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All things considered, Coin is acting VERY resilient so far today. The rest of the market is down and it is up.

Coinbase had its drop, its time for everything else to follow. Then i believe it all goes down together.

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To clarify, i think this is more of a market wide issue rather than a coinbase issue. Coin just moves first due to it being viewed as speculative.

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Directional bias has been strengthened. Massive bearish engulfing candle on the daily and 4 hour.

The daily macd has crossed down after its fakeout up. (reallllly bad)

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The takedown of Binance will be good for coinbase in the long term. I am suspecting that the lawsuits against coinbase will be much less damning. Suits which will allow coinbase to survive in the long run.

As long as coinbase survives, then it should pick up market share from literally every other exchange that cheated.

Short term though, this industry is getting a flush.

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My prior idea of longing coinbase at 31, and selling at 81, accrued a massive following of over 2000 likes and many comments.

I then exited the trade and commented it. I began this coinbase short idea here.

This idea started with 1 like, and has now reached 10.

Many people are still very very off side.

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Rocketfuel20 just made his first appearance here.

He generally shows up at local bottoms. could get a strong bounce. Careful with shorting this, maybe holding cash it best.

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Well, we had the rocketfuel20 pump it seems. now back down.

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Coinbase may shock people on monday. Will be interesting what bitcoin does this weekend.

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Until proven otherwise, this area may provide support for coinbase. At least for a month

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After reaching the top of the range, i almost expect it to go to the bottom of the range with very few bounces.

I do think it is possible we hold there.

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Bitcoin is acting scammy by staying elevated right now. Coinbase shows you where bitcoin should be at the moment (22k) not 28k. CZ of binance has roughly 120 million left out of 1 billion to prop the market. waiting for that to run out today or tomorrow.

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BTC is not breaking down. Longed coin @ 63

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Exited today at 67.5 I am a big noob and almost round tripped.

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I believe coinbase is the greatest company in crypto. I also believe coinbase is getting kicked out of the USA.

This is really bad, because part of its Identity is being a USA COMPANY.

There is some point where this stock becomes cheap enough that I will buy again, but if were talking about a generic exchange operating outside of the usa, then the price is much much lower. The level of trust drops significantly if they are not based in the financial hub of the world.

If they do figure out how to remain in the USA and continue offering all of their offerings, then the current valuation is massively undervalued.

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I think this gap down is just the beginning of at least a 3 week correction.

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Problematically, the 4 hour and the daily RSI are nowhere near oversold, yet.

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Have people coming here calling me a shoemaker cuz theyre bagholding the highest beta asset in the crypto market during the initial stages of a decline.

Dont take your anger out on me, I dont have to power to move this stock.

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Guess everyone yelling "sell in may" was a sign to sell now.

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Next stop for the securities exchange is the 200 daily. It will not hold. but prob gives a bounce.

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Bitcoin spillin and killin. This could be the dip that you dont want to buy right away, cause it keepin on dippin

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Coinbase gets Bermuda license and looks to open derivatives exchange there.

I suspect they will just limit their offerings in the USA, and provide shitcoins to the rest of the world. Which is fine.

I just wonder what will happen to their 100 million users. Will they stay when they are limited to bitcoin only?

will they use vpn and go to coinbase bermuda?

will the institutional investors just move to coinbase bermuda?

im very uncertain of what this means. I am willing to take a shot on this stock though... will be looking for good entries lower.

Hopefully the market sends this to the 30-40 range.

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Got a fanclub calling me a clown now lol.

Dont shoot the messenger.

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Wouldn't be surprised to see a bounce soon. Don't think it goes above the red line, and likely stops at the white line.

That volume at the local top seems like large distribution, way more than could be absorbed. Hence why were lower. But after that much of an unload, it really makes you wonder how far this goes.

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Maybe Gensler is just trying to help Jpow in the pursuit of making us all poor, for the sake of bringing down inflation.

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If you think coinbase trend is still up, heres your time to buy.

If you think we are going down, and that we are no longer rangebound, then just wait.

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What does coinbase do if bitcoin does dis?

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After careful consideration. I will most likely be looking to go long in and around the green box.

In time I believe it should get there, a few bounces along the way, maybe.

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All in 54.80

Tight stoploss in profit now.

This is a nasty nasty day due for atleast a bounce.

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Scurrrry.

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The answer to this, is SHORT SELLERS.

They are playing a game of hot potato.

The time to short was 80+ and then maybe 70+ on the bounce.

Anyone shorting now is likely to get rekt.

The people opening shorts now are taking the hot potato from those who shorted much higher. The risk is simply being passed on. Eventually they will have to cover. and thats how we go back to top of the range.

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I have doubled my position in coin since the beginning of the year by simply selling the short squeezes and buying the short attacks.

There are now fewer shares for them to buy back.

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Seems sketch. Cutting @ very slight profit.

Last time i was this flip floppy was top of 2021 bubble.

Prob best to sit on my hands now for awhile. indexes look like garbage.

very hard to do nothing. But shorting is dangerous down here so just sidelined cash

Still think we can bounce a bit more here but i dont like what I see.

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Diamond continuation pattern?

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Yeah so bitcoin trolled me last night, i could have made a ton of money if i held coinbase for like 15 more hours.

OH WELL.

I shorted bitcoin from 30k to 27.5 and made up for it.

That was the scammiest pump I had ever seen in my life and I had to participate in smashing it down.

Now that it is over with, I hope it is clear the direction of the market now.

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This is what I am thinking for bitcoin. And this would move coinbase to 38 bucks IMO

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Looking to buy down at 38-40.

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Strong possibility that there is a back test of 60.80 (200 day moving average)

This would be a 25% pump.

Similar happened near the end of last year before it continued a decline.

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This may still test the 200 day moving average.

Or it can be considered tested as of now, and didnt even make it there.

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Nothing has changed.
38 next.

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Dead cat bounce is probably over now, sheesh.

Anyway, still expecting 38... patience.

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For those who still care.

Still waiting. Things look awful.

MikeMM

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