achilles.sol
3.9K posts
@Crypto_Achilles
Crypto Class of 2017 | Certified BagHolder
Yea the potential for the "future tech" that $TSLA is developing is massive. But you have to ask yourself if this is already priced in or not. It's not like these ideas are novel anymore- we all know it's coming- so how much of that speculation/anticipation is already accounted for in current prices? In addition to that (and while I need to do a lot more research in this area) last I heard $TSLA has been losing market share in the EV category and sales have been declining. From the technical perspective, when I look at the chart I see a relatively choppy grind to local highs. Sure, we may keep pumping from here, but as long as there is a good argument to be made for a correction back down to our range lows (which I believe there is) the R/R is not justified for fresh positioning here imo. I'd be interested in the green zone below if we ever get it ($70), and if we don't, then I'll look for other opportunities in the market (there are always others). As crazy as it may seem at the moment, you have to keep in mind that $TSLA was trading at $100 just a few years ago and a few years before that it was literally trading at $12. Also, we can see that a pullback to $70 wouldn't break HTF market structure, just like the last pullback to $100 didn't break HTF market structure. So a pullback to those levels is totally "fair game". If we did get something like this, it would be interestingly similar to our Wave 4 $BTC move from 65k to 15k, before the final 5th wave that we are in the middle of today.
Right so we've been holding up at local range highs for some hours now and other alts are looking quite perky here. $XRP as I just shared in a recent post looks ready for a rally, $ETH looks primed as well for a move up to $4700 (has left behind equal lows, not sure if we will take them before or after the relief rally) and Bitcoin itself looks like we could get a push to 117k+ if we can hold here. The built up lows in the chart below on $BTC are likely to be taken- that I am pretty confident about. What I am not confident about is if they will be taken BEFORE or AFTER this relief rally that seems to be brewing across the board right now. And for this reason, I have decided to exit my short scalp in slight profits. I will instead now look to enter a long below 107.2k on a sweep of these built up higher lows OR a potential short somewhere above 117k. It's also worth noting if we clean up the lows below us BEFORE a relief rally that could mark our HTF bottom but if we instead move up for relief BEFORE taking the built up lows it could indicate a deeper pullback if/when we return for the lows after. Now we wait for either 107.2k or 117k+ $BTC ⌛️
Bitcoin looking good for new all time highs as long as we hold above 116.5k. Covered this scenario in my last YouTube video if you want to better understand the context around this give it a watch!
Back On My Bullshit Believe In Something Few
Back On My Bullshit Believe In Something Few
What is not clear?
On point so far, let’s see if we finally get that test of that .50-.55 zone 🍿 $CRV
