💾 Bitcoin, Coinbase & Tesla

2023년 3월 1일

We will go into Bitcoin monthly next but let's make a quick stop first and take a look at Coinbase and Tesla.

Recently I mentioned Tesla (TSLA) as a leading market indicator.
It moved first on the crash and it also moved first on the bounce/recovery, and thus we can use this stock to know what the rest of the market will do.

Then we have Coinbase (COIN), a publicly traded Cryptocurrency company.
Say what you will about their methods but like Binance, they are (1st) one of the only few options available around and (2nd), a true force in this game.

We can like them or not but regardless of that we have to admit that they play a most important part in this market.

As the Coinbase stock went bullish the entire market went bullish, as Bitcoin goes bullish Coinbase goes bullish.

Yesterday we had a full green candle on the COIN stock.
- This candle recovers 5 previous days that this stock has been closing red.
- This same candle is also pushing the stock back above EMA10 which switches the short-term potential from bearish to bullish.
- This move is supported by rising volume, above the daily average.
- Another point in favor is the RSI staying above 55.

What these signals are pointing to is the potential end of the correction, the 0.618 and 0.5 Fib. retracement support levels have been activated and a bounce is already taking place.

This can lead to the next move starting soon, now.
- COIN can move above 100.
- It can move above 120...
- The next target is set at 144, more or less.

We wait and see of course.

Thanks a lot for the support.

Namaste.