從市場情緒的快照角度來看，加密貨幣交易所和服務提供商Coinbase Global Inc Coin似乎並不是在吉祥的基礎上行走。

儘管在某些情況下，死亡十字架的性質聽起來不祥，但技術模式可能代表看漲的逆勢信號。

From a snapshot perspective of market sentiment, cryptocurrency exchange and services provider Coinbase Global Inc (NASDAQ:COIN) does not appear to be walking on auspicious grounds.

從市場情緒的快照角度來看，加密貨幣交易所和服務提供商Coinbase Global Inc（NASDAQ：COIN）似乎並不是在吉祥的基礎上行走。

Instead, circumstances seem quite bearish. Still, a rotation in opinion may be materializing among smart money traders or the so-called whales. As such, bullish speculators may have a fast-approaching opportunity in Coinbase stock.

相反，情況似乎很看跌。儘管如此，智能貨幣交易者或所謂的鯨魚之間的旋轉可能仍在實現。因此，看漲的投機者可能在Coinbase Stock中有一個快速的機會。

Again, at first glance, the notion of imminent upside seems far-fetched, to say the least. One of the more damning indicators is the death cross. A phenomenon that describes when a shorter-running moving average slips beneath a longer-running average — typically the 50-day moving average falling below the 200 DMA — the death cross symbolizes a deceleration of momentum. In some cases, it could also signal the beginning of a prolonged downturn or an outright bear market.

再一次，乍一看，至少可以說，即將到來的上行的概念似乎很牽強。更令人討厭的指標之一是死亡十字架。一種現象描述了較短的移動平均值在更長的平均值以下（通常為50天移動平均平均值低於200 dma）時，死亡交叉象徵著勢頭的減速。在某些情況下，它也可能標誌著長期衰退或徹底的熊市的開始。

To be clear, Coinbase stock has yet to officially print a death cross — but, it’s very much on the cusp of doing so. At time of writing on Friday, Coinbase’s 50 DMA lands at $239.54, while the 200 DMA sits at $232.26 — a gap of only 3.13%. Today’s big drop, contributing to a five-day loss of roughly 12%, has accelerated the likelihood of the dreaded signal flashing.

需要明確的是，Coinbase Stock尚未正式印刷死亡十字架 - 但是，這在很大程度上是這樣做的。在周五寫作時，Coinbase的50個DMA以239.54美元的價格降落，而200 DMA的價格為232.26美元，差距僅為3.13％。當今的大幅下降，損失了五天的損失約12％，這加劇了可怕的信號閃爍的可能性。

What’s more, technical analysts have warned certain cryptos themselves are at risk of printing the death cross. Since Coinbase stock in many ways represents a proxy of the broader crypto complex, an erosion of confidence in the underlying benchmark would seem to bode poorly for Coinbase stakeholders.

更重要的是，技術分析師警告說，某些加密貨幣本身有印刷死亡十字架的風險。由於Coinbase的庫存在許多方面代表了更廣泛的加密複合體的代表，因此對基礎基準的信心侵蝕似乎對共同利益相關者而言似乎很差。

Why Coinbase Stock Could be Offering a Contrarian Setup

為什麼Coinbase Stock可以提供逆勢設置

Despite the ominous-sounding nature of the death cross, in certain situations, the technical pattern could represent a bullish contrarian signal. In other words, rather than representing a warning of imminent doom, the bearish crossing of the moving averages could instead be a discount.

儘管在某些情況下，死亡十字架的性質聽起來不祥，但技術模式可能代表看漲的逆勢信號。換句話說，不如說明迫在眉睫的厄運的警告，而是移動平均的交叉可能是折扣。

Following its direct listing in April 2021, Coinbase stock has printed three death crosses, as follows:

在2021年4月的直接上市之後，Coinbase Stock印刷了三個死亡十字架，如下所示：

Although it’s an extremely small sample size, it’s intriguing that in every case, Coinbase stock has jumped higher one month after the death cross flashed. Starting from the first death cross, the post-one-month price of Coinbase clocked in at $190.77, $98.85 and $213.72, for an average return of 36.56%.

儘管這是一個非常小的樣本量，但令人著迷的是，在每種情況下，Coinbase股票在死亡十字架閃爍一個月後都會躍升。從第一個死亡十字架開始，Coinbase的第一次後月價為190.77美元，98.85美元和213.72美元，平均收益率為36.56％。

Adding to the speculative fire is the pivoting of sentiment among the whales. On March 18, Benzinga’s options scanner identified unusual options activity that was net bearish. Specifically, the biggest transaction in terms of dollar volume were for the sale of $300 calls expiring June 20 of this year. There were other sold calls expiring on the aforementioned date with a strike price of $150.

在投機性的火災中加上鯨魚之間的情緒樞紐。 3月18日，本辛加的選項掃描儀確定了淨看跌的異常選擇活動。具體而言，從美元數量上講，最大的交易是出售今年6月20日到期的300美元電話。在上述日期，還有其他售出的電話，罷工價格為150美元。

Based on the premiums received, readers can infer that participating institutional traders do not anticipate Coinbase stock breaking above the $190 level. While this sounds pessimistic, more recent options scans show a gradual sentiment shift.

根據收到的保費，讀者可以推斷，參與的機構交易者不會預期Coinbase股票的損失超過了190美元的水平。儘管這聽起來很悲觀，但最近的選項掃描顯示出逐漸的情感轉變。

During the midweek session, the biggest non-neutral transaction was for the purchase of $5 calls with an expiration date of Dec. 19, 2025. These ultra-deep in-the-money (ITM) calls carried a premium (ask price) of $200.25. By adding this premium to the strike price, one can presume that participating traders anticipate Coinbase stock breaking above $205.25 before Dec. 19 — preferably significantly above $205.25 and well before Dec. 19.

在周中的會議上，最大的非中性交易是在2025年12月19日到期日期的5美元電話。這些超深的貨幣（ITM）電話的溢價（詢問價格）為200.25美元。通過將此溢價添加到打擊價格中，可以假定參與的交易者預計Coinbase股票在12月19日之前的$ 205.25超過205.25美元，最好在12月19日之前和12月19日之前明顯高於205.25美元。

Finally, it’s worth pointing out that around the $175 level, Coinbase stock is trading on a long-term support line. Therefore, it wouldn’t be out of the question for Coinbase shares to pop higher, if only as a dead-cat bounce.

最後，值得指出的是，在175美元的水平上，Coinbase Stock正在以長期支持線進行交易。因此，即使只是一個死貓的反彈，Coinbase的股票越來越高就不會出現問題。

Waiting for the Right Moment

等待正確的時機

As stated earlier, the death cross has yet to materialize, although that day could come at any moment, depending on the volatility of Coinbase stock. It’s also worth pointing out that history isn’t guaranteed to repeat. While Coinbase currently offers a “perfect” death cross record, there are no promises that the fourth edition will pan out favorably.

如前所述，死亡十字架尚未實現，儘管這一天可能隨時到來，具體取決於共同基本庫存的波動。還值得指出的是，歷史不能保證重複。儘管Coinbase目前提供了“完美”的死亡交叉記錄，但沒有承諾第四版會受到好處。

Nevertheless, assuming that Coinbase stock prints the death cross next week, a rebound could materialize by the options chain expiring May 2. Conservatively, the average return of the lower-performing death crosses comes in at nearly 19%, implying a price target of around $208. To be blunt, speculators have enticing avenues to consider.

然而，假設Coinbase股票在下週打印了死亡十字架，可以通過5月2日到期的期權鏈實現反彈。保守地，表現較低的死亡十字架的平均回報率近19％，這意味著目標目標約為208美元。直言不諱，投機者有誘人的途徑要考慮。

For example, aggressive traders may consider the 200/205 bull spread. This transaction involves buying the $200 call (at a time-of-writing ask of $750) and simultaneously selling the

例如，積極進取的商人可能會考慮200/205公牛的差異。這項交易涉及購買200美元的電話（在撰寫時間為750美元的撰寫時間），並同時出售