Source: PaxForex Premium Analytics Portal, Technical Insight
Cryptocurrency exchange Coinbase shares were listed directly on Nasdaq on April 14. The opening price was $384. On the day of listing, bitcoin surpassed $64,000 and the total market capitalization was $2.3 trillion. The day before, Nasdaq set Coinbase's reference price at $250, which suggested a capitalization of $66 billion. On FTX, traders valued COIN at more than $620.
Nasdaq 100, H4
Pivot: 13796.00
Analysis:
Provided that the index is traded below 14000.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 13796.00
- Take Profit 1: 13660.00
- Take Profit 2: 13530.00
Alternative scenario:
In case of breakout of the level 14000.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 14000.00
- Take Profit 1: 14150.00
- Take Profit 2: 14320.00
Comment:
RSI indicates a downtrend during the day.
Key levels:
| Resistance | Support |
| 14320.00 | 13660.00 |
| 14150.00 | 13530.00 |
| 14000.00 | 13470.00 |
Nasdaq 100, D1
Pivot: 13757.00
Analysis:
Provided that the index is traded above 13180.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 13757.00
- Take Profit 1: 14560.00
- Take Profit 2: 14650.00
Alternative scenario:
In case of breakdown of the level 13180.00, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 13180.00
- Take Profit 1: 12620.00
- Take Profit 2: 12200.00
Comment:
RSI is bullish and indicates further increase.
Key levels:
| Resistance | Support |
| 14850.00 | 13180.00 |
| 14650.00 | 12620.00 |
| 14560.00 | 12200.00 |
