Slightly higher high with the indicators showing bearish divergences.
The RSI is showing bearish div
The Macd showing bearish Div plus a cross down of the averages, The williams %r also turned down showing bearish divergences.
Bitcoin is in a head and shoulder pattern with a target of 5-6k. Coinbase probably headed for 20 or lower. It will have very few bounces. Insiders are selling this stock like crazy, they are probably going to go bankrupt with the amount of lawsuits for selling unregistered securities to unsuspecting Americans.
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People will kick and scream saying im wrong, but nothing has changed.
to be fair , You've been nothing but wrong with this stock.I'm surprised you're having another go...
maybe it's not for you, hype boy.🙏
MikeMM
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@The_Master_, Yeah I sold after a 3x rather than a 8x.
I underestimated the amount of dumb money that would chase it higher.
as Isaac Newton once said "I can calculate the motion of heavenly bodies, but not the madness of the crowds."
This was the final cycle for bitcoin and crypto, so I figured that A conservative approach was correct, to get out before you cant get out.
So yes I have been wrong on it before, but it has reached such an extreme, that I must attempt a short.
Much like when I was buying at 31-32 dollars, I have the same urge to Short it now.
Ill likely close the short too soon too, but thats just how i Lock in gains. I dont need to wait for it to go to zero.
FlipFlops
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@MikeMM, This is clearly your first Crypto Bull run. The markets can stay irrational much longer than you can short. The trend is still up betting against it is gambling. At the same time publishing idea's thinking the stock is going below its bear market lows is foolish. TA wouldn't even support that move if your idea was sound which I don't agree with the TA would indicate this was a high 4th wave and 5th would be a 100% extension of the whole body of the chart. We can all agree a correction needs to happen but the market hasnt demonstrated it is ready for it yet. Please short we will take your squeeze dollars. $305-$320 and we will possibly see signed of reversal, but target would be $230, $200, $185, $145, $115 but wouldn't go any lower than that or would be a structural break and the whole economy is in for a bear market again.
Yeah this is garbage TA. The asset to crash $20 and a new all time low when the fundamentals haven’t been stronger. This is pure FUD. I am not perma bull but rationale to know when something is bs this narrative is bs.
MikeMM
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@ctbc6gsn2n, Oh yeah, pepe coin, cumrocket coin, niggolas cage coin, the fundamentals have never been better sir!
ctbc6gsn2n
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@MikeMM none of those listed on Coinbase. All institutions buy and clear through Coinbase. Coinbase staking revenue is growing. Fundamentals not assets you claim as your thesis. Maybe I should do a TA and show@You what will actually happen vs you throwing FUD out.
to be fair , You've been nothing but wrong with this stock.I'm surprised you're having another go...
maybe it's not for you, hype boy.🙏