Coinbase stock remains in a technical bear market (a fancy way of saying it’s been trampled by a herd of confused pandas) after falling by over 20% from the year-to-date high. Will this change after its earnings on Oct. 30? 🤷♂️
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The daily timeframe chart shows that the Coinbase stock price formed a down-gap in July after publishing a weak financial report (because even charts have days when they feel sad). 📉
It has spent the last three months attempting to fill that gap. Along the way, it has formed a rising broadening wedge pattern, which is commonly known as a megaphone (because nothing says “hope” like a megaphone). 📢
Coinbase remains above the 100-day Exponential Moving Average and the 38.2% Fibonacci Retracement level (because it’s clinging to hope like a toddler to a balloon). 🎈
It is also slightly above the bottom of the trading range of the Murrey Math Lines tool (because even math can’t save you from despair). 🧮
Therefore, there is a likelihood that the Coinbase share price will bounce back after earnings, and possibly hit the major S /R pivot point of the Murrey Math Lines (or it might just crash into a wall of skepticism). 🛑
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2025-10-29 20:18