Coinbase's earnings report fell far short of expectations, and there are rumors circulating on Twitter about Coinbase potentially going bankrupt. Looking solely at COIN's financials, both year-over-year and quarter-over-quarter revenue are declining. With the crypto market in a winter phase and trading volume continuously dropping, transaction fees—COIN's main source of income—are dragging down overall performance. From the candlestick chart, COIN has returned to the defensive zone around $140. This is the fifth time it's reached this level, but it's unclear whether it can hold this time. Meanwhile, $BTC and $ETH are showing clear signs of weakness. If a real breakout were to happen, prices would likely surge directly. True breakouts are rarely followed by pullbacks, so the probability of maintaining a period of consolidation here seems pretty high. #Coinbase #BTC #ETH
