从市场情绪的快照角度来看，加密货币交易所和服务提供商Coinbase Global Inc Coin似乎并不是在吉祥的基础上行走。

尽管在某些情况下，死亡十字架的性质听起来不祥，但技术模式可能代表看涨的逆势信号。

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.

从市场情绪的快照角度来看，加密货币交易所和服务提供商Coinbase Global Inc（NASDAQ：COIN）似乎并不是在吉祥的基础上行走。

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，情况似乎很看跌。尽管如此，智能货币交易者或所谓的鲸鱼之间的旋转可能仍在实现。因此，看涨的投机者可能在Coinbase Stock中有一个快速的机会。

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，至少可以说，即将到来的上行的概念似乎很牵强。更令人讨厌的指标之一是死亡十字架。一种现象描述了较短的移动平均值在更长的平均值以下（通常为50天移动平均平均值低于200 dma）时，死亡交叉象征着势头的减速。在某些情况下，它也可能标志着长期衰退或彻底的熊市的开始。

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.

需要明确的是，Coinbase Stock尚未正式印刷死亡十字架 - 但是，这在很大程度上是这样做的。在周五写作时，Coinbase的50个DMA以239.54美元的价格降落，而200 DMA的价格为232.26美元，差距仅为3.13％。当今的大幅下降，损失了五天的损失约12％，这加剧了可怕的信号闪烁的可能性。

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，技术分析师警告说，某些加密货币本身有印刷死亡十字架的风险。由于Coinbase的库存在许多方面代表了更广泛的加密复合体的代表，因此对基础基准的信心侵蚀似乎对共同利益相关者而言似乎很差。

Why Coinbase Stock Could be Offering a Contrarian Setup

为什么Coinbase Stock可以提供逆势设置

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.

尽管在某些情况下，死亡十字架的性质听起来不祥，但技术模式可能代表看涨的逆势信号。换句话说，不如说明迫在眉睫的厄运的警告，而是移动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月的直接上市之后，Coinbase Stock印刷了三个死亡十字架，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%.

尽管这是一个非常小的样本量，但令人着迷的是，在每种情况下，Coinbase股票在死亡十字架闪烁一个月后都会跃升。从第一个死亡十字架开始，Coinbase的第一次后月价为190.77美元，98.85美元和213.72美元，平均收益率为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.

在投机性的火灾中加上鲸鱼之间的情绪枢纽。 3月18日，本辛加的选项扫描仪确定了净看跌的异常选择活动。具体而言，从美元数量上讲，最大的交易是出售今年6月20日到期的300美元电话。在上述日期，还有其他售出的电话，罢工价格为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.

根据收到的保费，读者可以推断，参与的机构交易者不会预期Coinbase股票的损失超过了190美元的水平。尽管这听起来很悲观，但最近的选项扫描显示出逐渐的情感转变。

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.

在周中的会议上，最大的非中性交易是在2025年12月19日到期日期的5美元电话。这些超深的货币（ITM）电话的溢价（询问价格）为200.25美元。通过将此溢价添加到打击价格中，可以假定参与的交易者预计Coinbase股票在12月19日之前的$ 205.25超过205.25美元，最好在12月19日之前和12月19日之前明显高于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.

最后，值得指出的是，在175美元的水平上，Coinbase Stock正在以长期支持线进行交易。因此，即使只是一个死猫的反弹，Coinbase的股票越来越高就不会出现问题。

Waiting for the Right Moment

等待正确的时机

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，死亡十字架尚未实现，尽管这一天可能随时到来，具体取决于共同基本库存的波动。还值得指出的是，历史不能保证重复。尽管Coinbase目前提供了“完美”的死亡交叉记录，但没有承诺第四版会受到好处。

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，假设Coinbase股票在下周打印了死亡十字架，可以通过5月2日到期的期权链实现反弹。保守地，表现较低的死亡十字架的平均回报率近19％，这意味着目标目标约为208美元。直言不讳，投机者有诱人的途径要考虑。

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，积极进取的商人可能会考虑200/205公牛的差异。这项交易涉及购买200美元的电话（在撰写时间为750美元的撰写时间），并同时出售