Sometimes markets ring a bell at the top, but you have to be listening for it.

It's usually best to be totally unemotional to pick up on a potential climax in price or a major turn in a market or individual stock.
Often tops are made and it doesn't seem obvious until the dust has settled.
But are they tops-or pullbacks or the start of a consolidation phase?
Are there any telltale signs of a top?
Are there any headlines or events to draw in the public for a frothy launch?

An IPO casts a spotlight on a company at a given time and a first attempt to balance interest and value.

It can also be that bell.

Recently, Bitcoin (BTC) peaked (at least for the moment) back in mid-April of this year above $63K / coin.

At the time of this writing, Bitcoin is trading around $37K after hitting a low near $30K last weekend.

It was and continues to be one of the hottest and most talked-about tradeable instruments available.
In short, it appears to be a seasoned instrument with a high degree of interest by the public.
If there is one thing Wall Street investment bankers know how to do, it is to figure out the proper timing and news cycle and when to launch and list a new IPO.
The key to the timing of an initial public offering is to launch it when the interest and anticipation are high and at a fevered pitch.
It is at this apex of excitement and price action that many will hear a bell- signifying a top. (Or bottom if bad news is already built-in)
The “Bell” for Bitcoin was the much anticipated “Hot” IPO of the Crypto exchange platform Coinbase (COIN).
Coinbase sported a $60 Billion valuation on its debut. On the first day of trading, the shares hit a high of $429 and closed that day a hundred dollars less.

Coinbase and its primary instrument Bitcoin have been trading down from those heady levels ever since.

Facebook (FB) also comes to mind as a hotly anticipated 2012 IPO that sagged after its debut.
FB was priced in May/2012 around $42 amid much fanfare, but by August/2012 the shares were trading as low as $17.55 as enthusiasm and interest waned.
For those who waited with patience and an eye for pullbacks and the patience to hold during consolidation patterns, they were eventually richly rewarded, as Facebook subsequently took a nascent social media industry and built an advertising behemoth.
So that brings us back to the fact that IPO's often take place by design at tops.
But after the post IPO action of Coinbase - will it eventually be just another quick pullback or a top?
Or does it just require patience since we must endure a consolidation phase?
Only time will tell, but one thing is now clear-they brought Coinbase public at a short-term top.
Did you hear the bell?

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