16.3-16.4$ is at the convergence between the short term 0.68 fib and the macro 0.236, which would make this dilution a perfect timing for a healthy retracement on the next couple of days before going back up with August delivery numbers.
Update on my previous idea: the gap up has been closed, 2 gaps down have been closed with more gaps up created.
We are closing in on the 3rd gap down which also coincide with the golden 0.618 fib and will very likely be closed next week.
I'm expecting a rebound in the days leading to the Q1 delivery numbers announcement with maybe the date given for battery day...
Update from my previous idea posted as there is a 3rd gap down from 10-13/01/2020 between 478 & 492$ which is still recent and close enough from my macro 0.618 fib (180-923) to be considered.
I disregard any gap below 5$ or previous to 2020 up trend.
Again I don't know what I am doing there...
Following the article www.investopedia.com it would make sense for the stock to keep going lower and close the 2 recent gaps:
- 29-30/01/2020: 590-618$
- 17-21/01/2020: 510.50-518.5$
Or it could keep going on the rebound from closing/afterhours today and go close the gap between 739 & 776$.
As always, I don't know what I am doing there...
Considering the overbought RSI, I would say we are going a little bit side way from now then a nice drop back to 0.68 Fib retracement on last pump followed by more side way and then a big drop to 2800 for a double bottom or even lower for a complete capitulation.
Stand still while we fall.
A quick short squeeze and we get back to the bear trend... are we going to see 1850-2000EUR before 2019?!
As usual keep in mind that I don't know what I am doing there.
We will then see if 5350 EUR is the ultimate resistance & get a bull run to start or if we continue going down into the crypto winter/abyss...
Attach your seat belt, we are going for a ride!!!
