Profit from the current Bitcoin rally with Coinbase shares

While bitcoin is now struggling to finally overcome its stronger old 65000$ alltime-high`s resistance zone after the first two BTC future ETF`s (BITO & BTF) debuted in the course of this week and therefore might continue to pullback to its 55000$-54.000$ main support level, also the chart technical situation of the most crypto related stocks has improved greatly over the past days. Whereby from the chart technical progress especially Coinbase stands out!

The on NASDAQ listed Coinbase Global, Inc. (COIN) provides financial infrastructure and technology for the crypto economy. It offers the primary financial account in the crypto economy for retail customers, a marketplace with a liquidity pool for crypto asset transactions for institutions, and technology and services that enable partners in the ecosystem to develop crypto-based applications and securely accept crypto assets as payment. The company was founded in 2012 and is based in Wilmington, Delaware.

Coinbase is probably the most exciting and most monitored new IPO this year. Instead of taking the traditional route via banks, the largest US crypto exchange opted for a direct listing.

Thus, there was no direct cooperation with banks that placed the shares, instead, the shares were listed and priced directly on the NASDAQ.

Accordingly, there is an above-average number of retail investors holding this stock from the beginning. That is why this stock is a highly emotional affair resp. a very-classic high momentum market ...

And now COIN shares are back smashing things, after a sort of rounded shaped bottoming formation has formed. The Rounded Bottom that COIN shares have formed since May 2021 IPO is best visible on the daily chart:

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