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Coinbase Stock: A Generational Buying Opportunity at Current Levels?

Published 03/04/2024, 02:16 AM
Updated 07/09/2023, 06:31 AM

On Valentine’s Day, I talked with Jon Erlichman of Bloomberg about what tradeable instrument I would date and which one I would marry.Coinbase-Daily Chart

For the record, I said I would marry silver.

Lo and behold, silver perked up on Friday and closed with gains close to 3% and very near a potential major breakout.

For those who read the Daily, you know we have been expecting a pop in inflation between March and June.

If this rally in gold, silver, oil (longer term charts work well), and metal miners continue, this could be the start of a parabolic move.

Also on Friday, Holden Milstein, our crypto expert, Samuel Burke of Real Vision, and I sat down together to talk about all things including Coinbase (NASDAQ:COIN), the stock.

Holden knocked it out of the park with his analysis on Bitcoin and Ethereum.

Here is a quote from Holden’s research:

SOL is the largest altcoin in the market and it still is only about 1/8 Ethereum’s market cap. I’m not the first person to tout that SOL is faster, cheaper, and far more user-friendly than ETH, and I personally believe that SOL will turn out to be the Apple (NASDAQ:AAPL) of the crypto world thanks to how much the chain has catered to retail activities.”

On Coinbase COIN, I cover why it is a generational buy opportunity as the largest on-ramp platform for money to enter the crypto space.

As you can see in the chart, the price of COIN is consolidating as is the momentum.

Have a look see and listen at our hour on Real Vision and walk away with a plethora of knowledge and trading ideas!

ETF Summary

  • S&P 500 (SPY) Another new all-time high! 510 now pivotal
  • Russell 2000 (IWM) 205 cleared-and Gramps did his job-212 next major resistance and 205 support
  • Dow (DIA) Not quite to the highs so 400 in view
  • Nasdaq (QQQ) Pow-new highs-things in motion tend to stay in motion
  • Regional banks (KRE) 45-50 range
  • Semiconductors (SMH) 211 now support and another big winner
  • Transportation (IYT) See Daily on TSI and this sector
  • Biotechnology (IBB) Looking at 140-142 next levels to clear
  • Retail (XRT) Not as impressive as the others, but hanging in there with 75.50 pivotal
  • iShares iBoxx Hi Yd Cor Bond ETF (HYG) 77 big number to hold (still)

Latest comments

you can't be serious, it's the chuch of what's happening now next month you all will be screaming, you should have sold
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