What's going on moon gang it's time for your weekend, update about what's going on in the crypto universe in this video i'll, be talking about some of the major fundamental developments, mainly the coinbase ipo, and then i'll be talking about cardano being added to coinbase pro. On top of all that also be doing a very quick technical breakdown of what's going on in bitcoin, cardano, ethereum and dogecoin, but before we hop into that as a very friendly reminder, don't forget to join up with the moon gig by hitting the subscribe button. If you don't want to miss any of the monday to friday live streams or update videos such as this one, all you have to do is go over that bell: icon click on it and switch it to always and you'll be notified. Whenever i produce any new piece of content, and on top of that, if you want two free stocks, make sure you're checking out that link to weeble below you'll get one for signing up and then another for depositing a hundred dollars alrighty, let's hop right into it.

So, as i'm filming this on sunday afternoon, bitcoin is currently trading at fifty seven thousand five hundred dollars per coin. But before we get into these technicals, let's actually kick things off with coinbase coinbase files to sell 115 million shares in direct listing ipo. So coinbase is a very, very major deal: coinbase global, the largest u.s cryptocurrency brokerage. A lot of people are using it to buy all forms of crypto buying selling all that good stuff.

If you watch any of my live streams, you know that i usually have a rule of not getting involved with ipos when i do trading, whether it's investing or day trading or swing trading. Any of that stuff i like to have more information, as in a more built out, chart inherently within ipo, it's an it's newly available on the public market, so there isn't much of a chart to base anything on um, so i usually avoid them just for that. Even if i like the company coinbase, is one of my very very few exceptions. As soon as this thing hits the public market as in you and i can buy it trade, it invest in it.

Any of that good stuff, i will be a buyer. I believe that much not only in this company but really in the future of crypto. Just so you know, coinbase makes about 86 of its revenue from transactions. So, basically, if you think that crypto as a whole will be remain popular and people will still actively trade, it coinbase is a great way to make money off of that.

If you're, a fellow believer on top of that coinbase itself, like within the world of crypto brokerages coinbase, is growing at a phenomenal rate. I'm talking exceptional rate from 2018 to 2020. It went from about seven billion dollars of in total assets on its platform to fast forward to 2020 up to 90 billion. That's more than a 10x growth rate obviously makes sense, because um crypto itself is really becoming much more popular.

It's becoming widely adopted. It does make sense that we're seeing this type of growth, so i like it as a company, i mean i like the crypto space and i think coinbase is a great company to kind of ride on the back beyond the fact of just investing in something such As bitcoin all right, so basically coinbase global submitted plans to sell 114.9 million shares in a direct listing initial public, offering that could value the company at more than 100 billion dollars. I am in no way an ipo expert, a spac expert. Really, i'm not an expert of any form, but i have a sneaky suspicion that coinbase, when it actually hits the markets will be valued way more than 100 billion.

I think it's that popular coinbase will list on the nasdaq, with the ticker c-o-i-n coin: pretty cool ticker for coinbase, i'm happy that they could get it. That is pretty awesome. So the next logical question. Now this came out on march 17th.

The next logical question is great: when can we trade it? When can we invest in it? When is that, so this was actually just posted today on investing.com coinbase ipo listing postponed from march until april 2021, so it sounds like we're. Gon na have to wait a couple more weeks, uh in all my research, i couldn't find one specific date uh. They initially announced their plans of wanting to go public in december of 2020 and it keeps getting drawn out so um there's no specific date etched in cohen in in stone, but we are now looking for april of 2021. After that, you might be wondering what price will it start? Trading at coinbase share prices now stand between 200 and 375.

That's be the difference really between class a and class b uh. That's not the emphasis of this video you have to understand with within the world of um, these venture funds, people investing and finally going public. Usually it starts trading way higher than this um. If you have the right credentials, basically, if you're wealthy enough, you can invest beforehand, but for the average of people like you and myself, um we're most likely gon na get in after ipos when it finally makes its public debut.

And if i had to bet right now, i bet it will be trading north of 375.. That's just my guess. Who knows if i'm gon na be right but um. This is just what we've seen with ipos, really in the past year too, that they come in sky high of the initial investment price.

But let's see how this all plays out coinbase. I like it, like, i said, i'm gon na break one of my own rules of not investing in ipos. I'm gon na try to get some of this as soon as it hits the public market. I think it'll do well, especially because i think crypto will do super super well, not only over the couple next couple years, but really over the next couple decades, especially because of the fact that they're continually adding cryptos to their platform.

That a lot of people are interested in this brings us to cardano. As recently as march 19th, cardano is launching on coinbase.com uh, basically coinbase pro people got it and then just uh minutes later it was available. What was funny is not only does coinbase have such a sway. It's such a strong um.

I guess user base that they can push a crypto, but also cardano itself is so popular that, as soon as it was on coinbase, it jumped uh nearly two percent, which is a pretty impressive thing for just being initially or getting its listing on coinbase pro. So, overall, just so, you know to be fully transparent. As of now, i am invested in bitcoin, i'm invested in ethereum and i am swing trading dogecoin and as much as i hear about cardano just through what i'm reading people talking about it on the live streams, i'm very very interested - i'm not invested in cardano yet, But i very much plan on doing it shortly. I just want to be fully transparent before we get into the technical breakdown of some of our favorite cryptos um, just because it's up, let's kick things off with bitcoin as i'm filming this it's trading at fifty.

Seven thousand five hundred over the past week, it's up one percent and from the start of 2021 until now, bitcoin is up an incredible 98.6. Absolutely crazy. Just you know the name of this charting software is called trading view, there's a link for it below if you're interested, but anyway. The major thing i want to point out to you right now with bitcoin is something i'm seeing in the rsi, also known as the relative strength index.

This is a very common technical indicator that you'll most likely have available to you pretty much on any charting platform that you use, because it's that popular. So the thing i want to point out to you about the rsi is: it has values of zero to 100. Very high is considered to be pretty bullish. Pretty much 70 and above and very low, 30 and below is considered to be pretty bearish.

A lot of people use this for reversion plays as in when it gets pretty overextended. As we saw back here when it hit 42 000. They look forward to sell-off cool down a bit and then, when it gets very low, they look for buyers to step. In so that's what i mean by reversion place, it oscillates when it's high it's time for it to come down when it's low, it's time for it to come up once again in the world of technical analysis, nothing's ever ever perfect.

There's always counter examples to every single rule, but it is a it's a decent rule of thumb that people like to follow so anyway. The reason i'm going on about the rsi right now is from this hive at 42, 000 on january, 8th to the next high of 58 000 on february 21st to the current all-time high of 61 781 on march 13th. Clearly bitcoin has gone higher and higher, but the rsi hasn't. In fact it's actually come down in the world of technical trading.

This is referred to as bearish divergence, and what it means is that there's less bullish momentum here compared to here compared to here so continually as bitcoin - has gone up. The bullish momentum's died off a bit. This is commonly indicative of a future decline. Maybe a bit of sideways trading just so the rsi has a chance to really cool off, so you could argue, hey matt, maybe over the past one two, three four five six seven days is that enough of a cool off beard - yes, it very much can be, And that's why we've seen the rsi kind of just hanging out around 60.

and in fact the bears try to push it below this trendline. That was formed between february 28th and march 5th, and the bulls quickly stepped in and pushed it above that. So i like that so basically for this upcoming week, i'll mainly be seeing if the bull camp can hold this trend line, because if they can i'll be looking for a third test and a successful breakout of 60 000, which would then bring up the next test Of 61 781, but if there is a breakdown, i think that's honestly completely fine in the short term, because then the rsi will have a chance to cool off, and i would view it as a nice dip buying opportunity between 50 and 52 and if the bears Show a lot of strength i'll be looking to buy even more bitcoin between 40 and 42 000.. On the other hand, if there is a successful breakout and a new all-time high, i will be looking for some resistance around 65 000, but really at some point this year.

I absolutely have a huge amount of confidence that bitcoin will be sailing past 75. 000. So i think that's the key psychological level. A lot of people are watching at this moment in time, so for the upcoming week i would recommend watching those price levels and let's see how this bearish divergence in the rsi plays itself out.

So that's bitcoin. Once again, i am invested in it and i think it's a great long-term winner. Now, let's talk about cardano um ever this is you can see right when it was added um a lot of excitement in cardano it and, as of now it double top at a dollar 48, a dollar 47 double top right. There same bearish diversions.

We saw in the in bitcoin uh, the crypto itself went to the same level, but there wasn't the same bullish, enthusiasm and from there we saw a couple days of it selling off. But this previous resistance at a dollar 20, which then turned to support, turned to resistance, is now once again acting as support right now, it's a great risk for reward setup, because if it breaks down, you could cut it for a very small loss, but on the Other side, if it does bounce, which i would fully expect it would be a the third test of 148 and who knows the third time might be the charm, and we might see that very nice breakout. Instead, if the bears end up winning, we could see that sell-off to the previous technical support and key psychological level around a dollar personally. For me, this is where i'll be looking to pick up some cardano.

I have no idea, there's no way to know if it will get there. In fact, we met, we might never see a dollar again. That is theoretically possible. That's what happens when you try to time the market you might miss out on some good opportunities, but i'm trying to hold out for that to see if i could get a really nice dip eye on this crypto now, let's just quickly run through ethereum and dogecoin.

Neither of them have been doing much, ethereum bounce back up to this region of resistance, and now it's just been trading sideways in it not much to say we're. Looking for that breakout, maybe a nice rip up to above 2000 or if there is a breakdown below 1750. I would say the next support will come at 1, 600. in terms of dogecoin.

It shot up, came down finally, bounced off of 4.8 cents. Recently, it's been showing a decent amount of strength, it kind of double topped at six point three cents and since then slowly drifting upward. So i'm looking for that breakout above that, i would be watching six five and past that i'll be watching seven four. Once again, just to reiterate my overall thoughts on dogecoin, i don't think it's the best long-term play.

I do believe that bitcoin, ethereum and cardano all have better long-term potential than dogecoin, but i do think dogecoin is a great short to medium swing. Trade because there's just excitement behind it and i'm not against any way to make some money. I believe, as more and more people are talking about it, especially all these celebrities on twitter. I think that'll only help the cause, because you never know when eli's going to drop a hot tweet about dogecoin and push it even higher.

So because of that pretty simple thesis. But i do believe it's a great just uh swing trade to make some money in the short term other than that. I believe. Bitcoin, cardano and ethereum are all great long-term uh candidates, or just pretty sizable returns, especially the first mover advantage of bitcoin.

With all that being said in a comment below, i would love to know your thoughts on the coinbase ipo. Are you investing yes or no and then outside of that? What are your thoughts on crypto, i'm pretty bullish on the sector, but who knows, maybe i'm missing something. So i would love to get your thoughts in a comment below don't forget to join up with the moon gang. If you want to hang out in any of the live streams or update videos such as this one, all you have to do is subscribe.

Go over to that bell: icon click, it switch it to always. So you don't miss any of the new videos and beyond that. If you want those two free stocks from weeble you'll get one for signing up and another for depositing a hundred dollars, and until i catch you next time for me bottom of my heart to all you beautiful space apes. Best of luck in the markets, you.