COIN (COIN)

So much nostalgia here on $COIN short interest. Back in December 2022, $COIN short interest got to all time high at 43M as 1.) $BTC tanked below 20k, 2.) FTX among many other bad actors went belly up, remember Alex Mashinsky? Terra Luna Do Kwon was allegedly hid an USB drive in his butthole when arrested? 3.) SEC led by @ewarren went hard on crypto and lost @TheDemocrats votes in 2024? Now $COIN short interest is back at 26M but 1.) Coinbase is now an SP500 company, 2.) balance sheet very strong, 3.) everything exchange with stock and prediction market, and best place to earn $BTC and interest on your stablecoin 4.) lawsuit dropped forever 5.) first US company to offer US perp in fully compliance way 6.) run the fastest growing and most active Ethereum L2 7.) expanded global footprint tremendously and many other amazing milestone. Market can be irrational in both ways, inefficient market is our best opportunity.

COINBASE: BREAKDOWN CONFIRMED? $COIN appears to be breaking down out of a right-angled ascending broadening wedge structure. A daily close below the lower support boundary at $140 validates this technical setup. If the breakdown is confirmed, the measured pattern projects a downside move toward $65.

Even Jim Cramer can’t bring $APP train down 💪

$COIN Coinbase remains under pressure, with the preferred outlook now indicating the start of a larger C-wave decline. The previous scenario of a larger B-wave has now become an alternative. Leading scenario: The preferred assessment is that the B-wave peaked in May and that Coinbase is now developing a 5-wave C-wave decline. Wave 1 may already be completed, which would allow a recovery rise in the corrective Wave 2 before another down move. As long as the price stays below the resistance zone between $167 and $202, the overall bearish outlook remains. Risk scenario: The blue scenario, where the B-wave extends further, remains a valid alternative. A breakout above $167–202 would increase the likelihood of a larger corrective rally and weaken the immediate bearish outlook. Key support levels: $139–146 / $118 / $86 Key resistance levels: $167–202 Conclusion: The preferred outlook stays bearish, with the market likely entering a larger C-wave decline. Breaking the current support zone downwards would strengthen the bearish scenario, while an advance above $202 would favor the alternative scenario.

$COIN didn't receive the message that it's supposed to sell off today together with the rest of the market, apparently https://t.co/7ywnEV91TQ