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:

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: