What’s bubbling in the witch’s cauldron? 🧙♂️
- Coinbase shares went zooming up to $380—the same nosebleed height reached on its first Nasdaq waltz in April 2021.
- The infamous inverse head-and-shoulders breakout (which sounds much scarier than it looks) suggests this is only the start of a scrumptious sugar-high for COIN 🍬📈.
- Analysts are as bullish as Augustus Gloop in a chocolate river—positively stuffed with optimism!
This daily dose of technical gobbledegook comes straight from CoinDesk wizard and certified Market Magician Omkar Godbole.
Let’s spill the fizzy stuff: Coinbase, that raucous crypto bazaar, has shimmied its way back up to $380, according to the data elves at TradingView. Picture this as Willy Wonka handing you back your golden ticket after Augustus sat on it. It’s a comeback story good enough for the BFG’s bedtime tales!
Did you see what happened? Coinbase splashed right down to a woeful $31.55 in 2022—so low, the witches brought out their measuring spoons for proper doom forecasts. But then, an “inverse head-and-shoulders” pattern brewed up on the weekly chart. If you’re not already bored, this pattern is an enchanted signal that the party might barrel past $600 soonish. Please hold onto your chocolate bars.
Decoding the Magical Inverse H&S Spell 🧙♀️
An inverse head-and-shoulders looks a bit like a lopsided ogre doing the limbo: three soggy dips, with the middle one being a real tearjerker. The side dips? Not as dramatic—think snoozy relatives at a birthday party. The “right shoulder” is where the action perks up faster than Augustus sniffing out cocoa. But nothing happens, of course, until prices clamber above the “neckline”—the price fairy’s version of the finish line. Volumes normally nap while the ogre wriggles, then leap up as champagne corks start firing.
For number fiends: chart-tamers add the gap from neckline to the lowest pit, staple it to the breakout, and call it a “measured move”—a lovely way to guess how high the sugar rush goes.
COIN’s Big Daring Ta-da! 🎩✨
Hot off the presses: COIN just punched through the neckline resistance and is now doing occasional victory laps above it. According to the crystal ball (a.k.a. “measured move”), COIN could skedaddle all the way to $660! (Just don’t spend your gobstoppers yet.)
Because you love details: volumes were snoozing hard when the ugliest dip (“the head”) formed. Only as the right shoulder uncoiled this spring did they start stretching and hollering again.
This technical wizardry lines up with what some very serious, briefcase-carrying analysts are saying (probably with monocles): Oppenheimer just jacked up its COIN price goal from $293 to $395, and still says it will “outperform.” Yes, really. Even the adults are excited.
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2025-07-08 10:28