Verified Investing on $COIN (Nov 6, 2026)
Coinbase bounced off a February 2024 gap-fill that should act as strong support, with further strong support below at another gap-fill and at the pivot low, which was retested at 71 candles rather than the usual 90 and is allowed here as a multi-month low. He holds COIN, has taken profit, and would look to add at the second or third support levels as price goes lower.
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Today we're going to do Coinbase. Coinbase came to this level and it bounced. Why did it bounce from this level right here? Well, that's because what price was doing long time ago.
This is going all the way back February 2024. This is what they call a gap fill. And so there are people that essentially, you know, they maybe they wanted to get in on this, they didn't buy it, and then the next day it shoots up here.
Well, they're going to wait for it to come back here so they could reby. And so this level is going to act as strong support. Same thing is going to act as strong support right here.
Same concept that is, and then even lower, very strong support at the pivot low. Now, you don't want a a pivot to be retested for about 90 days, 90 candles. This is only 71. will allow it though.
In this case, we'll we'll allow it is you kind of want a multi-month high or multi-month low close enough in my opinion here. So, Coinbase has couple levels of support below this level.
And now I already have Coinbase stock. I have taken profit on it. I mean, I I I mean, I've I've been holding Coinbase off and on since uh really I want to say definitely December and I I wish I remember if it was December 23 or December 22.
I remember I bought a lot of stuff during the bare market. I want to say it was December 22.
but I will look to add if we start playing around with these second or third levels of support. I already have a little bit of a bag. I don't I wouldn't quite add to it just yet, but definitely be looking to add as we go a little bit lower.
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Verified Investing has 7 calls on this stock; only the adjacent ones are shown.