{"id":461283,"date":"2021-04-15T01:00:40","date_gmt":"2021-04-15T01:00:40","guid":{"rendered":"https:\/\/wncen.com\/?p=461283"},"modified":"2024-06-11T13:54:59","modified_gmt":"2024-06-11T13:54:59","slug":"bitcoin-coinbase-coin-nasdaq","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-coinbase-coin-nasdaq\/","title":{"rendered":"Coinbase COIN Debuts To A Bloody Bitcoin, But Bullish Structure Remains"},"content":{"rendered":"
Whether it was capital being moved from Bitcoin<\/a> into COIN during its stock market debut or if it was a classic sell the news event, the top cryptocurrency is red on the day.<\/p>\n Bulls were expected to steal the show today but instead, there’s been a 5% intraday drop from today’s new all-time high. A short-term bullish structure, however, remains intact \u2013 meaning the selloff could be a bullish retest ready to rocket prices toward $87,000 per BTC.<\/p>\n Coinbase Global<\/a> (COIN) began trading on the Nasdaq today, marking crypto’s big stock market debut and the first cryptocurrency company to go public.<\/p>\n Related Reading | Bitcoin NFT “The Death of Fiat” Commemorates Crypto Bull Run<\/a><\/strong><\/em><\/p>\n Excitement leading up to the listing has spurred crypto market FOMO and pushed Bitcoin and Ethereum further to set new all-time highs. Exchange tokens, altcoins, and everything else<\/a> has been pumping too.<\/p>\n <\/p>\n COIN made its debut today reaching a high of $428, but in the last several hours has fallen by as much as 27% to a low of $310 on the day.<\/p>\n Bitcoin also fell and is also down 5% on the day. However, the fall to retest support ultimately could be bullish<\/a> for the top cryptocurrency and was a quick shakeout before moving higher.<\/p>\n In technical analysis<\/a>, depending on the lean of a trend angle it can determine if the market structure is bearish or bullish. Price action leaves behind support and resistance that form geometrical shapes and other patterns.<\/p>\n Inverse head and shoulders, falling wedge, cup and handle, and more are all bullish patterns. Triangles<\/a> come in various forms, but when they’re bullish the lower trend line is ascending.<\/p>\n Technical Analysis Education | Everything You Need To Know About Triangles<\/a><\/strong><\/em><\/p>\n An ascending triangle pattern<\/a> appeared ahead of the Coinbase Global debut, with a breakout yesterday and potential retest of resistance turned support today.<\/p>\n <\/p>\nCOIN: Coinbase Global Brings Crypto To The Nasdaq<\/h2>\n
COIN fell in the hours after an initial rise to a high of $428 \u00a0| Source: NASDAQ-COIN on TradingView.com<\/a><\/pre>\n
Bitcoin dropped 5% from today's highs as COIN made its stock market debut | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Bitcoin Forms Most Bullish Pattern Ever: The Ascending Triangle<\/h2>\n
Ascending triangles are some of the most powerfully bullish patterns | Source: BTCUSD on TradingView.com<\/a><\/pre>\n