COIN
📉 Coinbase lost its upward channel but is near the bottom of a downward channel.
💡 The analyst bought Coinbase, anticipating a rebound driven by Bitcoin’s recovery.
⚠️ This trade is based on the correlation between Coinbase and Bitcoin’s movements.
📊 Technical indicators like RSI and MACD showed oversold conditions at the time of purchase.
@ClaveBursatilTV:
“Coinbase, another of the assets that we have bought that has to do, obviously, with cryptocurrencies. In this case, unfortunately, it lost the upward channel, but it was close to the floor of a downward channel. So we said, well, if it is on the floor of a channel, why not rebound also with the idea that Bitcoin is going to rebound, which is what feeds a little all this, the fall that has occurred by Coinbase has to do with the fall that has occurred in Bitcoin. Then Bitcoin is what feeds the movements of the crypto stocks. Then if I think that Bitcoin is going to rebound and on top of that I have Coinbase in the support of a structure, after it lost it, we made this purchase on February 25, with which, let’s say, we have already bought and it continued to fall.”
Watch the exact part of the video where Andy talks about Coinbase here:
Watch the video on YouTube.
Read more articles by the world’s top 100 analysts on Coinbase (COIN) at the following link. COIN stock.
