RSI has dropped into the bear zone, confirming sell signal
Dropping outside of the exponential bull top (green area)
Replicating same setup as January 2001
Back then price made way all the way back to the 0.5 fib at $8. The same move this time would take it back to $105.
Price/earnings ratio still at 33!
REASONS TO BE SHORT-TERM BULLISH
Back-test of 100 week moving average could be on the cards in the coming week or two
That said it has already done that in March 2022
$480-490 would represent a nice setup & risk/reward ratio for a short
RSI ticking upwards, potentially to cross into the green bull zone on daily
Downside target or long entry would be $108, right to the top of the bottom purple zone. Back to 2016 highs. Likely some years away, before it gets all the way there though!