Hi guys/gals,
With the hype of Tesla coming to a grinding halt we are now seeing to total reverse.
I've worked hard on my new technical analysis and have come up with what you see here for best viewing use pc or laptop.
I use smoothed moving averages as my momentum indicators along with drawing tools including the time based fib extension and the fib retracement tool, I have also added faces happy, plain and sad as visual greed and fear scenarios with question marks and exclamation marks.
Tesla broke to the upside in mid '2020 and as you can see the price ripped to the upside with no back testing ever taking place.
From just looking at the chart I see price falling below the high at the beginning of '2020 to around $45.00 with a possible rally to then eventually fall to sub $25.00 before bottoming out. It sounds absolutely ridiculous but that's what I'm reading in my charts.
On the other hand I could be completely wrong.
If the $45.00 area holds strong we could see this as our low and will need to look for a bottoming structure to occur giving us the information we need to prepare for the next wave up of course this would take some time to play out I would imagine.
For me to see Tesla capitulate I need to see the bag holders from '2019 and early '2020 sell there shares this would confirm to me the bottom has finally taken place and we can look for the reversal to commence.
As always this is NOT finantual advice, please DYOR do your own research before diving into any stock.
Be smart, Be wise, Invest small, Play safe, the aim of the game! Don't lose money because that's your ammo run out and its game over.
Stay safe,
Crypto Leonard
With the hype of Tesla coming to a grinding halt we are now seeing to total reverse.
I've worked hard on my new technical analysis and have come up with what you see here for best viewing use pc or laptop.
I use smoothed moving averages as my momentum indicators along with drawing tools including the time based fib extension and the fib retracement tool, I have also added faces happy, plain and sad as visual greed and fear scenarios with question marks and exclamation marks.
Tesla broke to the upside in mid '2020 and as you can see the price ripped to the upside with no back testing ever taking place.
From just looking at the chart I see price falling below the high at the beginning of '2020 to around $45.00 with a possible rally to then eventually fall to sub $25.00 before bottoming out. It sounds absolutely ridiculous but that's what I'm reading in my charts.
On the other hand I could be completely wrong.
If the $45.00 area holds strong we could see this as our low and will need to look for a bottoming structure to occur giving us the information we need to prepare for the next wave up of course this would take some time to play out I would imagine.
For me to see Tesla capitulate I need to see the bag holders from '2019 and early '2020 sell there shares this would confirm to me the bottom has finally taken place and we can look for the reversal to commence.
As always this is NOT finantual advice, please DYOR do your own research before diving into any stock.
Be smart, Be wise, Invest small, Play safe, the aim of the game! Don't lose money because that's your ammo run out and its game over.
Stay safe,
Crypto Leonard
