COIN – Big Base, Big Level | Base Breakout at 211
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COIN has been building a massive base while most of the market was extended and chasing. That's exactly the kind of setup I want to be in right now.
BTC is pushing again. When crypto gets momentum, COIN is the leveraged play on the move. This is the stock that benefits most when the crypto trade comes back to life — and the chart is reflecting that.
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THE SETUP
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$211 is the key level. Big flat resistance sitting right there. Stock came off a 52-week low of $139 back in February and has been grinding higher and tightening up ever since. That's a massive base. Stocks that build long bases like this tend to make significant moves when they finally break out.
Most of the market right now is extended. The easy money on the first leg of the recovery has been made. What I want now are stocks that haven't made their move yet — stocks sitting on big bases with clear levels. COIN fits that description perfectly.
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TRADE PLAN
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Entry: ORB long at the open — buy the opening range breakout
Stop: Low of day
Timeframe: Swing trade
Trigger level: $211 clear and hold
The ORB gives you a defined risk level immediately. If it breaks and holds $211 with strength at the open, you're in. If it fades back through the low of day, you're out. Clean and simple.
Earnings coming May 7 — that's another catalyst in the pipeline if the trade sets up and runs before then.
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WHY NOW
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BTC recovering. Regulatory environment improving. Coinbase expanding beyond just crypto into stablecoins, prediction markets, and tokenized equities. The business is bigger than it was at the last cycle peak and the stock is less than half of its highs.
The chart built the base. BTC is providing the fuel. $211 is the trigger. Watching this one closely at the open.