Coinbase stock a ‘ticking time bomb’ on weekly chart: Here’s why
Even though Cathie Wood’s Ark Invest, which manages several exchange-traded funds (ETFs), has been dumping Coinbase (NASDAQ: COIN) shares en masse, the stock s of one of the largest cryptocurrency exchanges in the world seem to be preparing for a price explosion. As it happens, the Coinbase stock has been demonstrating a symmetrical triangle chart pattern on its weekly timeframe, which prompted the team at the TrendSpider trading platform to suggest that it “looks like a ticking time bomb” in an X post analysis shared on July 18. Coinbase weekly chart analysis. Source: TrendSpider Indeed, according to the above chart , the shares of the popular crypto exchange are currently making a typical bullish symmetrical triangle pattern, which means it is only a matter of time before their price breaks out from it and makes a strong upward movement. Picks for you ...