Dear traders,
Stock market make bounce (SPX) but Crypto didn’t follow and decoupling is in making but on bad side for crypto. Prepare for next market move!!!
Jake
TOP Trader
BTC:
BTC didn’t make move and show no strength at 1H we have symmetrical triangle pattern with target ranges 17.100$ or 16.500$ small but move will happen. Copy trade TrendRiderV2 in 5 days make 9% of total wallet profit.
ETH:
ETH hit and consolidate at resistance of 1220$ looking for breakout to the target of 1071$. For small SHORTS and copy trade take StormRider it makes +6% in week.
XRP:
Resistance of 0.348$ hold XRP of making and waiting market response for next market movements. Target is still 0.315$ for SHORTs.
LINK:
LINK still hold at 6$ resistance and looking for downtrend first target of 5.53$ and closing to the downtrend line so there is no much place to move up.
Crypto/stock daily news:
IS COINBASE STOCK UNDERVALUED?
Coinbase is the top dog when it comes to U.S. crypto exchanges.
But even the top dogs can’t escape this crypto winter…
A year ago, Coinbase IPO’d & hit an $86b valuation.
Today, the stock is down 90% since & is trading at a $9b valuation
Some are pushing the “panic button” on Coinbase. And things are getting serious over at their HQ.
The CEO has pulled out the Bear Market Fit and gone from “just call me Brian” to Mr. Armstrong.
But the reality is, it might not be that bad for Coinbase. Let’s take a look at some numbers…
Coinbase raised money in 2018 at an $8b valuation. It’s currently trading at a $9b valuation. Meanwhile:
2018 Revenues: $520m
2022 Revenues: $3.3b
2018 Users: 22m
2022 Users: 101m
2018 Assets on Platform: $11b
2022 Assets on Platform: $101b
Since their last round of private funding in 2018, Coinbase has:
6x’d revenue.
5x’d users.
9x’d assets on the platform.
GOOD BUY IF YOU ASK ME!!!
Final words:
Crypto start to decouple from STOCK market and DXY hold at support looking for next leg up and nuking crypto and stock!
WE ARE STILL IN BEAR MARKET don’t be fouled by small scam pumps stay at your TA and don’t trade by feelings!!!
Not Financial Advice!
Good luck with trades!
Author
Jake
TOP Trader
