This EV puppy is looking bad. What goes up too much and too fast tends to unravel fast and fall below the mean. See my analysis from 9 mos ago. I have no active interest on tesla short or long, analysis is based on my 25 yr or analyzing and trading.
The BNB coin looks like it will follow FTX based on the chart. IMO there is no way this will not hit $40 and probably $20. All rallies are sold and the bearish wedge is following ftx pattern, I own no BnB or have ever owned any, this call is based on the chart alone.
Binance chart looks like a giant distribution pattern with a double top. The chart pattern suggests that this is double-digit crypto in a temporary hold, a hot potato.
#Tesla chart exhibits extreme weakness and a possible gap down or waterfalls cascading to under $100. Be careful with this, any bad news can send it over the edge. Expect a strong resistance around $180-190 and a possible temporary move to over $230. In my amateur opinion, in the longer term, this should trade around $50-70 as the chart suggests.
Can Tesla remain flat for a while or drop 20-30% till it hits the lower part of the trading ban?
In the age of PE compression, higher rates, and the return to lower growth levels, Tesla stock has lots of room to either correct in time, sideways, or correct in price and time similar to 2013-2029. I'm an investor since IPO and learned a lot from cross-referencing...
I just wanted to get this out there. FOLLOW the GRAY line indicating probable price movement I drew 3 weeks ago. It's just my opinion based on sentiment and cycle. I think we will eventually wick down to $24-27K and immediately retrace to form new highs by mid-late summer. Below $20K is possible but not probable because I think cheap money will come back. Fed...
Although the secular #bitcoin bull cycle is very much in tack, the cyclical trajectory is unfolding a bit different yet still bullish. Don't get spooked about the fear-mongering and bearishness predictions, the extreme bullishness we witnessed the last 4 months triggered a bear pushback and a shakeout. If the chart indicates that a price unit can trade down or up...
