COINBASE, when you taunt the SEC one too many

26 de jul. de 2022

COIN

Hi friends, Today was a Good Day!

At the beginning of this month I went on an adventure, I've done my due diligence on Coinbase. An exchange I love, It was a first legit crypto exchange I used back in 2013. Our relationship was great, coins went in cash came out.
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I decided to flex and did a bit of financial evaluation.
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My Idea on July 4th - Coinbase *checks papers* overvalued,
yielded a great Long towards the resistance.
Consensus was simple, I would like to see Coinbase trade closer to its Tangible Book Value, a range of 35.22 to 23.48



July 20th Idea - Coinbase Rumors with some News sprinkled on top.
I was still in an active trade, targeting 70.3 and seeing where it goes from there. I've presented a timeline of what I believed were signs of trouble at Coinbase.



July 22nd Idea - COINBASE What happens to a dream deferred?
With my Long trade completed, I've reassessed my targets and prepared to Short. Targeting 63.5, and 53.5 if all went well. For a few days the price cruised along the upper channel wall. And then I saw THE NEWS! Coinbase taunts the SEC, and next day they're under investigation. As Short signals go, that was a pretty solid one.



Today both Targets hit, the price currently sits near 53.5.
Best case scenario, I see the price reach my Tangible Book Value range sometime around August 9th.
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I invite you to checkout my other three Coinbase ideas, linked below.
If you found any of this interesting, please leave a like/comment.

Thanks!
WhoIsWu

28 de jul. de 2022

Nota

So far everything is according to plan.
Will it retrace from 63.5, coinciding with the channel wall rejection. Or COIN will breakout and aim for 67.7