Well the talk in town is all about Cryptos and Bitcoin.
Has the bull market ended ? What to do ? What is going on ?
Relax. Nothing ends, its a correction but we are just at the start of a new era as to Cryptos.
My advice when there is turbulence is of course to study the charts but above all to look at the big picture.
I know people who always follow short term charts like some minutes, hours or maximum daily charts.
Take a step back, look at the big picture, weekly charts, monthly charts.
A stock which was one of the big events of this year and so far has disappointed investors is COINBASE.
I decided to take a look at it since it is affected by the Cryptos moves.
I find the chart very interesting.
You can see how it failed during its 4th leg (up) to cross the lines and its 5th move (down) which possibly created a bottom.
I just need confirmation to BUY this stock which will be an important one in the future (I also like Voyager).
So, my 1st confirmation will come from $247 to $250 and this will be my 1st BUY zone.
I like the stock. It just need to give some confirmation about a change of its trend.
For now I am neutral but soon I may be bullish on Coinbase.
Has the bull market ended ? What to do ? What is going on ?
Relax. Nothing ends, its a correction but we are just at the start of a new era as to Cryptos.
My advice when there is turbulence is of course to study the charts but above all to look at the big picture.
I know people who always follow short term charts like some minutes, hours or maximum daily charts.
Take a step back, look at the big picture, weekly charts, monthly charts.
A stock which was one of the big events of this year and so far has disappointed investors is COINBASE.
I decided to take a look at it since it is affected by the Cryptos moves.
I find the chart very interesting.
You can see how it failed during its 4th leg (up) to cross the lines and its 5th move (down) which possibly created a bottom.
I just need confirmation to BUY this stock which will be an important one in the future (I also like Voyager).
So, my 1st confirmation will come from $247 to $250 and this will be my 1st BUY zone.
I like the stock. It just need to give some confirmation about a change of its trend.
For now I am neutral but soon I may be bullish on Coinbase.
Comment:
The move of COIN after the possible Wave 5 is longer than normal. So we may have a complec pattern so better wait for a clarification of the overall process