At this level, the bulls and bears are already arguing. Coinbase $COIN is trading at 123.89, down 2.91% for the day. It’s just a step away from its 24-hour low of 123.12; yesterday it was still at 130.84, and today it’s hovering right near the bottom.
Put simply: COIN is the crypto market’s shadow on the US stock market, and $BTC is also down 2.27% over the past 24 hours. COIN is falling faster than the broader market, bringing the crypto market’s chill to US stocks first. Anyone holding it is probably wondering right now: is crypto weighing it down, or is COIN weakening on its own?
I’m inclined to sit tight for now, because it hasn’t broken below 123.12 yet. If it does, that would be a new low, and sentiment could push it down further. But if it can get back above 130.84, I’ll change my mind right away—that would mean the selling pressure has eased.
COIN is hovering near its low. Do you think this is the tail end of a pullback, or the start of another leg down?
$COIN
#美股 #Coinbase
Put simply: COIN is the crypto market’s shadow on the US stock market, and $BTC is also down 2.27% over the past 24 hours. COIN is falling faster than the broader market, bringing the crypto market’s chill to US stocks first. Anyone holding it is probably wondering right now: is crypto weighing it down, or is COIN weakening on its own?
I’m inclined to sit tight for now, because it hasn’t broken below 123.12 yet. If it does, that would be a new low, and sentiment could push it down further. But if it can get back above 130.84, I’ll change my mind right away—that would mean the selling pressure has eased.
COIN is hovering near its low. Do you think this is the tail end of a pullback, or the start of another leg down?
$COIN
#美股 #Coinbase