$TSLA - The base case seems to be playing out, with the price reaching the 1D Bull Market Support Band after rejecting at the high-timeframe resistance range between the 1.272 and 1.414 Fibonacci extension levels.
That said, the price seems to be breaking below it, so if the weakness continues in the coming days, I'll be looking to hedge part of my spot holdings in order to mitigate the short-term downside risk, since that would open the door for a deeper pullback toward the prior high-timeframe resistance range, marked in red, aligning with the 0.786 Fibonacci POI at $430, before a more durable reversal to the upside.
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$TSLA - The base case seems to be playing out, with the price reaching the 1D Bull Market Support Band after rejecting at the high-timeframe resistance range between the 1.272 and 1.414 Fibonacci extension levels.
That said, the price seems to be breaking below it, so if the weakness continues in the coming days, I'll be looking to hedge part of my spot holdings in order to mitigate the short-term downside risk, since that would open the door for a deeper pullback toward the prior high-timeframe resistance range, marked in red, aligning with the 0.786 Fibonacci POI at $430, before a more durable reversal to the upside.