1/7
Why the $30K level may be important:
Its approximately the 1.618 Fib Ext.
Which in the two prior cycles was tested as support but was never closed below on the monthly chart.
This time?
Why the $30K level may be important:
Its approximately the 1.618 Fib Ext.
Which in the two prior cycles was tested as support but was never closed below on the monthly chart.
This time?
2/7
Its approximately the Yearly Open.
Arrows = YO retested as support in same year
X = Quick failure of open to offer support.
3/4 times this happened were all in Jan an lead to prolonged bears.
Its approximately the Yearly Open.
Arrows = YO retested as support in same year
X = Quick failure of open to offer support.
3/4 times this happened were all in Jan an lead to prolonged bears.
3/7
365 day anchored VWAP:
At $30K the fictional hodler is well under water.
Which increases chances of capitulation and more downside.
365 day anchored VWAP:
At $30K the fictional hodler is well under water.
Which increases chances of capitulation and more downside.
4/7
$30K is the approximate neck line of giant head & shoulders that has been tested as support several times.
The more times a level is tested, the more likely it is to fail.
A measured move would be considerably lower.
$30K is the approximate neck line of giant head & shoulders that has been tested as support several times.
The more times a level is tested, the more likely it is to fail.
A measured move would be considerably lower.
5/7
Round # levels in $10K increments have acted as both support and resistance.
Likely a psychological phenomenon.
$30K aligns well with a long term trend line.
Round # levels in $10K increments have acted as both support and resistance.
Likely a psychological phenomenon.
$30K aligns well with a long term trend line.
6/7
What's @elonmusk's cost basis?
From my calculations its around $30K.
Could the board pressure a sale and lead to further downside?
What's @elonmusk's cost basis?
From my calculations its around $30K.
Could the board pressure a sale and lead to further downside?
7/7
Tesla math:
$1.5Bil BTC purchase announced 2/8/21
BTC avg price 1/1/21 to 2/7/21 = $35,150
BTC bought = 42,674
Sold 10% for $272mil
Exposure = $1.228bil
BTC Remain = 38,406
Current value = $1.26bil
Tesla math:
$1.5Bil BTC purchase announced 2/8/21
BTC avg price 1/1/21 to 2/7/21 = $35,150
BTC bought = 42,674
Sold 10% for $272mil
Exposure = $1.228bil
BTC Remain = 38,406
Current value = $1.26bil
Loading suggestions...