Coinbase: Dead Cat Bounce Or Bottom Is In?

SummaryCoinbase long-term technicals are currently evenly weighted - no clear indication of future trend. However, a few critical points will soon provide a clear direction.Bullish factors are Blackrock partnership, network expansion of dominant position, and advantages of increasingly regulated industry.Bearish factors are pressure from competitors in DEX space and traditional brokerages in CEX space, dismal macro-economic environment.Technical indicators are neutral for now. Watch for specified turning points.COIN's Birthright - Born With A Golden SpoonCryptocurrency exchange Coinbase Global (COIN) is the 800-pound gorilla in the American crypto space. Founded by Brian Armstrong in 2012, it COIN quickly grew to become the dominant US crypto exchange by volume and user base.From 2019 to 2021, COIN grew revenues 26-fold from $533 million to $14 billion. More importantly, it did so while growing profits from a $36 million loss to a $3.6 billion gain.COIN makes its money from users trading crypto for a commission. The more users the better, and COIN was growing these at a blistering pace:Coinbase verified users in millions (Backlingo, Coinbase, Alistair Milne)Heady stuff, that. The market thought so too.Armstrong timed his market entry perfectly: COIN went public at the height of crypto mania during a time of still euphoric stock markets. COIN's value immediately shot up from $250 to an intraday high of $429.54 before closing th...