A typical insider Pump and Dump.
COIN started at $381, idiot retail investors took the bait and 20 minutes of hype and buying frenzy shot share prices up to $429.54,
unsurprisingly, the stock shot down a hundred bucks to $328.28 ( todays closing price). Conservatively, I expect the stock to descend to $250.00/ share, the NASDAQ recommended price.
I was warned about posting this - Expect extreme volatility at open Monday - Leading to investors to pour in from crypto and other tech stocks - expect nothing less than 6$ - MEDIA WILL TELL YOU IT'S OVER-VALUED HOWEVER THIS IS NOT TRUE.
Expect this IPO to effect the Crypto Markets
(DATA FROZEN?)
NASDAQ:COIN
INDEX:BTCUSD
TVC:SPX
CAPITALCOM:UK100
...
yesterday I published this an analysis about opening days with 8 examples!
it is time to review it:
I know this could be a totally different story, but it is good to review this post!
If you are an active trader:
I believe no matter what is the opening price for Coinbase tomorrow, it could be possible to buy it at a lower price the day after tomorrow..! if you...
We might see a rally on Thursday 4/14/21 in the form of a correction of the overall bearish trend, however with this impulsive leg to the downside, we have established the first major leg. If this leg isn't engulfed then we can expect price to come into the $275 price rage. The 5 minute chart is best due to lack of candle sticks. I am not able to post a 5 minute chart.
If people bought NASDAQ:COIN today at the first opportunity on the first day of the IPO they are underwater and must not have watched my video in December where I laid out the RIGHT way to play IPOs...
Coinbase Global Inc is a provider of end-to-end financial infrastructure and technology for the crypto-economy. It generates substantially all its net revenue from transaction fees from trades that occur on its platform. Geographically, it derives a vast majority of its revenues from the US followed by the rest of the world.
Because this chart is not that clear...
Classic initial pump up then a dump down. People are eager to lock in those quick profits! We'll see if we find support around the $300+ area or drop below $300 to find a bottom. I wouldn't be surprised if we get a retest to the IPO all time high of $428 in the coming days or weeks to come.
Coinbase is directly pegged to the success of cryptocurrencies. So...
What's the thoughts on Coinbase?
Relationships to Bitcoins price?
Where the Alts fit in?
Sink or swim or mooooooon?
Comments and discussions welcome!
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup...
So i got one hell of an idea for you guys.....let it drop dramatically to where it was supposed to start and then we start speaking.....otherwise bye bye $COIN, i didn't like your platform anyway....
