People who bought at the re-test got stuck really hard because of Elon Musk. Most of the people lost confidence in the market since it's not that reliable to trade these days. I am guessing that many people are waiting for the price to pump up a bit so they can exit with a small loss. It mostly happens before the previous peak price and the trend lines are also descending. So I think this will happen below $39,500 and an aggressive target would be $38,300 since there is a resistance line there, and $39,000 max.
Calling a head and shoulders before it forms is stupid, but just be prepared for it. I'm not saying it will happen, it's just a possibility. The last time I predicted the right shoulder, it became true perfectly around $40,300 as you can see below.
I'm just a practicing amateur. Please do not trade relying on my analysis.
Calling a head and shoulders before it forms is stupid, but just be prepared for it. I'm not saying it will happen, it's just a possibility. The last time I predicted the right shoulder, it became true perfectly around $40,300 as you can see below.
I'm just a practicing amateur. Please do not trade relying on my analysis.