Coinbase Stock Slide Continues

Coinbase stock (COIN – NASDAQ) slide continues to frustrate enthusiastic investors.

coinbase stock slide continues — break order into pieces – never buy all at once

No doubt, if you’re a seasoned investor you’ve been through this meat grinder before. I mean buying an IPO or direct listing on day one. Of course, justified by not wanting to miss out.

Sound familiar?

Hopefully, if you’re in this situation you didn’t blow all your capital. Ideally, the best way to play an IPO is to break your orders into pieces. Never buy all at once. Ever!

In this situation you’re best strategy is technical analysis. In other words, what are the charts saying?

Well, it doesn’t look pretty. Coinbase stock chart is looking dreadful. Extremely bearish!

coinbase stock slide — Coinbase stock slide

Despite a bullish bias you might have, the charts never lie. In other words, don’t buy until the chart turns bullish.

In the event Coinbase chart turns bullish, what should you look for?

Bullish Technical Analysis Signals – Coinbase (COIN-NASDAQ)

Close above the 10 day moving average
Hold the $250 support level

Due to the lack of price data, we don’t have much to work with. That said, today’s bounce in the crypto market had better hold. If not, the Coinbase stock slide will continue. For now, sit tight and monitor the chart.

coinbase stock slide bitcoin clings to support — WILL THE $47,000 SUPPORT LEVEL HOLD? Crypto bulls better hope so

Conclusion

All things considered, I’m looking to add Coinbase stock to the Ultimate Portfolio.

In my opinion, cryptos are here to say. As long as Central Banks are prepared to create unbelievable levels of debt to finance political agendas, investors will seek alterative means to protect themselves from inflation.

In truth, if you bought Coinbase stock too early, you will likely have to wait a while before you’re in the black. Then again, at least the company is profitable, so it could be worse.

DISCLAIMER: Content provided in this article is for informational and entertainment purposes only. This article is not legal and/or investment advice. This article should not replace professional investment advice based upon your particular situation. Duties are not assumed, intended or created by this communication.