Associate Portfolio Manager at Revere Asset Management. Financial Market Commentary on X: @ConnorJBates_ 14k+ Followers
#Bitcoin Staging a strong follow through today after holding the $60,000 level and trading up 7% today to $66,000. $COIN The related equity is also having a very strong day up over 7% and clearing some overhead resistance. Attractive looking weekly cup and handle with the depth of the base only being around 25-30%.
Associate Portfolio Manager at Revere Asset Management. Financial Market Commentary on X: @ConnorJBates_ 14k+ Followers
$COIN is currently retracing to the pivotal $200 mark, aligning with the 21-week moving average and the initial stage of the base breakout level. Today, it is demonstrating positive momentum by adhering to this crucial $200 level. #Bitcoin is positioned at the foundational level of the base, maintaining stability at the $60,000 mark, which is a bullish indicator for this associated equity. Coinbase has reported impressive triple-digit earnings growth, driven by significant tailwinds associated with the widespread adoption of cryptocurrency.
