Hi everyone,
This time we are taking a look at recently IPOed
COIN
stock.
It may seem obvious that
COIN
price is following crypto market movement.
If that's so, do technical indicators matter for this stock analysis?
Let's find out.
Taking BTC as a benchmark for the whole crypto economy, we clearly see that
COIN
follows BTC movement almost exactly.
However, standard technical indicators, such as support and resistence, seem to hold up for
COIN
stock.
Thus, if we can use TA for BTC or any other crypto, we can definitely use it for
COIN
.
SO
Implementing my boxes as per usual.
What do we see?
Box breakout to the upside on increased volume.
What's the plan?
See if the price consolidates in the circled area.
Preferred entry at 295 level defence.
Keep it simple and be patent.
Let me know what you think of
COIN
.
Trade wisely and good luck!
-----------------------------------------------------------------------------------------------------------------
Disclaimer!!!
This is not financial advise.
This time we are taking a look at recently IPOed
COIN
stock. It may seem obvious that
COIN
price is following crypto market movement. If that's so, do technical indicators matter for this stock analysis?
Let's find out.
Taking BTC as a benchmark for the whole crypto economy, we clearly see that
COIN
follows BTC movement almost exactly. However, standard technical indicators, such as support and resistence, seem to hold up for
COIN
stock. Thus, if we can use TA for BTC or any other crypto, we can definitely use it for
COIN
. SO
Implementing my boxes as per usual.
What do we see?
Box breakout to the upside on increased volume.
What's the plan?
See if the price consolidates in the circled area.
Preferred entry at 295 level defence.
Keep it simple and be patent.
Let me know what you think of
COIN
. Trade wisely and good luck!
-----------------------------------------------------------------------------------------------------------------
Disclaimer!!!
This is not financial advise.
