COINBASE Surges as Bitcoin Breaks $71,000! Next Price Target?

10月29日

Analysis of Coinbase (COIN) - 15m Timeframe

Trade Setup: Coinbase has shown a significant uptick as Bitcoin surged past the $71,000 mark, triggering a bullish entry point at $214.90.

Volume and Momentum: Current trading volume stands at 10.46M, surpassing the 30-day average of 9.32M, signaling strong interest and momentum.

Technical Levels:

• Entry: $214.90
  
• Target 1 (TP1): $221.45
  
• Target 2 (TP2): $232.06
  
• Target 3 (TP3): $242.66
  
• Target 4 (TP4): $249.21
  
• Stop Loss (SL): $209.60
  

Catalyst:
Bitcoin’s recent price surge has positively influenced Coinbase’s stock, aligning with its correlation to crypto trends. The upcoming earnings report in 2 days may add further volatility, providing potential upside if positive results are announced.

Conclusion: This entry marks an opportune moment to capitalize on Coinbase's rally tied to Bitcoin’s performance. Traders should watch the earnings announcement closely as it could propel the stock further, potentially reaching the set targets.