BIG BANG in the MetaVerse
First of all, if you just follow the solid black and dashed black trajectories you'll do fine. The solid black is general downside target, the dashed black is an attempt to map out potential path to target in waves.
Goal target is 153 by March 2024. Target range = 140-170 by May 2024 latest, but as early as Jan 2024.
Initial target is 201 by end of 2023, likely around next earnings in November. Initial target range is 200-230 by as early as end of September 2023.
Levels to breakdown in order for this to play out:
306 - most important level, this is the breakdown level.. with a bounce at 306, Zuck could see one more leg up to 336
278-295 - this is where I'm expecting waves 1 and 2, resp. on the leg down toward target
257
Get ready for some explosive selling due to the nature of this chart setup. We are at the top of the B-wave and beginning a C wave that could even extend to a new low or a double bottom.
To invalidate this, META would need to reach 391, that is pretty far above current price, so stop loss is sustained break above 336.
Goal target is 153 by March 2024. Target range = 140-170 by May 2024 latest, but as early as Jan 2024.
Initial target is 201 by end of 2023, likely around next earnings in November. Initial target range is 200-230 by as early as end of September 2023.
Levels to breakdown in order for this to play out:
306 - most important level, this is the breakdown level.. with a bounce at 306, Zuck could see one more leg up to 336
278-295 - this is where I'm expecting waves 1 and 2, resp. on the leg down toward target
257
Get ready for some explosive selling due to the nature of this chart setup. We are at the top of the B-wave and beginning a C wave that could even extend to a new low or a double bottom.
To invalidate this, META would need to reach 391, that is pretty far above current price, so stop loss is sustained break above 336.
Note
We are trading in the 278-295 range as predicted. I am expecting downside continuation to lower 200s from here.Bulls should be very careful in this market.
Note
306, as I noted in post is most important level for this to complete full downside projection. The move started out with a breakdown of 306 which dropped it to the 270s to test next crucial levels under 306. From there it bounced in line with wave 1,2 expectation.The explosive drop that just occured happened as soon as 306 was rejected as resistance. From here I am expecting next downside move to 257-266 (as long as 295 does not show support here).
Disclaimer
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.