Transcription
Time for the Tesla and Palantir weekly update, and I'm gonna include a few other stocks too, like, uh, Coinbase and Robinhood, uh, and maybe a few others. So stay tuned, and we can just take a look here at, uh, Tesla first.
Weekly chart, uh, linear scale, because the first thing I want to show is that price is just still closing weekly candles above this 414.50, uh, week after week after week. It is building a very solid foundation, something that it's never done before. Uh, before it tried for a few weeks, but then it failed, right? But now this is the trend. And plus, I showed you last time, the monthly candles continue to close above it as well, which has never, ever happened before. There's never been any kind of monthly candles closing above that 414.50 until, uh, we saw that in September. And since then, price has always been above it. So, extremely bullish.
Um, just a different view as well. We go back towards the, uh, more recent top here, and, uh, we can see to the, uh, bottom after that, right? The April bottom, uh, from the December high to the April bottom. We're, we're looking at that fib of the 429.84 still, and price did close a tiny, tiny bit below it. So, it closed at 429.52. Does that change everything? Does that mean price is just going to automatically go back to the low 400s again? No. Because we've seen it before, right? Like this candle right here back in September, uh, 29th, right? That did close, uh, right at 429.83, like one penny below it. So, it can be just like a rounding error.
But one thing we do know for sure is this 457.27 is acting as a very powerful resistance. So, I don't think we're ready to just break into all-time highs. Price did try to hover around it and above it for a lot, uh, of the week, but it just wasn't enough to close above it. And I think the sell the news event on Friday, uh, was kind of the catalyst that it's not ready because, uh, too many people were, I think, bullish going into it. So they just had to, uh, reverse it and go back down towards support zones.
Uh, is it ready to, uh, break out in the weeks to come? Maybe? Well, we can put on some other indicators and we can see with the Ichimoku as well that the conversion line is still catching up to price. And on many charts this week, uh, a lot of charts, they went down to touch that conversion line, and Tesla still hasn't. And that conversion line is at 408.95. I'm not saying that it has to go back down there, but I think what it's doing is at least waiting for enough time for this conversion line to catch up to price. So, uh, we'll see how that opens up on Monday. But ideally, the goal is going to be to try to stay above that 429.84 and that previous 2021 high at the 414.50 as well. Like that is the most important zone I'm watching. And I think besides that, nothing else really matters. So, 429 down to 415, that is really the zone. Just keep watching that. And when it's ready, when these averages catch up to price, I think it'll be time to continue to close above this 457.27. And once that happens, all-time highs are after that.
And next, we have Palantir. And Palantir, I'm just going to show you basically the, uh, fibs on this one because not too much is important right now except for these Fibonacci. So, what we're going to take a look at is first, log scale. And of course, this 1.618, my 618 fib is of the utmost importance. And I just want to see price always close above it. And a lot of people are thinking it needs to go lower, right? It needs to go back down to the 15s or even lower. But, uh, I'm going to, I'm going to show you why I don't think it's really that necessary. And when we just switch to linear scale, I think you'll see why.
So, switching to linear scale, the same exact time frame, right? From the 2021 top and the 2022 bottom, it is establishing a base on top of this 4.236. And guess what price hit this week? 17.146 and bounced successfully again. So, since we broke out in September, September 15th, it back-tested it so many times. In fact, four weeks, four weeks, it back-tested it, and it held every single week. And this is a bearish engulfing candle right here, but it's still holding support. It's still holding support.
And if we put on the, uh, Ichimoku cloud as well, yes, it did close a little bit below that conversion line there, but we saw that before. The last time it closed below the conversion line, right here, it spent like three weeks underneath it, and then it regained trend. So, it could be time for a little bit of a cooling off, right? Maybe another retest of the 17.1 or even getting liquidity below down towards, uh, this baseline, which is 16.127. But I still think it kind of wants to close above that 17.146. So, that's going to be my main focus for this chart going forward. And, uh, we're just going to wait until this conversion line actually gets reclaimed as a support again. And until then, we'll just probably see more consolidation until it's ready to continue higher. But ultimately, super bullish chart. I like it. I think it's going to have the ability to just continue to the 200s when it's ready. It just needs maybe a little bit more time because it needs some of these averages to catch up to price.
And next, we have Coinbase. And Coinbase, we can see that price did close back below this $31.85. And this is something I wanted to see try to at least maintain for the week, but it did not. Also, when we go to the Ichimoku here, we can see that price did, in fact, close below the baseline as well this week for the first time in a while. Right? The last time it closed below that baseline, it was, uh, the kind of the beginning of the downtrend that led to the April crash. But I don't think it's really in the same situation as last time right now because we are still holding on, right? This is actually still holding on to the previous lows right here. That wick right there is 292.56. Price did close above it. And it's not really the similar case the last time it closed below the baseline because the last time it closed below the baseline, it made a lower low. Even that wick right there, uh, which was 295, no, it's sorry, 224.077 right here, and it closed the week right here at the 235. So, that candle right here made a lower low, which led to the decline. But right now, there was a successful bounce. And in fact, the successful bounce happened right there at the 50-week moving average, my green line right there. So, it does look pretty healthy. I'm not too concerned about that look right here.
So, we're just going to pay attention to the trend, right? And actually, since it broke out in May, it has never touched that 50-week moving average. So, going back down there to touch it is actually a healthy thing before continuing higher. But because it closed below some levels, it could take some time to get out of there. And I think what represents, uh, that picture the best is this linear scale GAN right here, uh, where it's just been stuck between the, uh, the level up here, the 380, and the arc. So, we could, in fact, just stay in this range for some time until it's ready to go higher. And we could even, even maybe just build a base on top of this arc trickling down for a few weeks until ready to get a little bit more bullish. So, very, very good developments. But because it's just been range-bound in itself for some time between, uh, the 284 and the 380 up here, I think it's still going to be in that range until that 380 break. So, if we're going to be watching any, any level right here, it's going to be my green GAN level at 380. Once we get weekly candles back above it, uh, close back above it, then we'll see the continuation higher. And until then, we might still need to keep retesting some levels. Maybe even another retest of support down below is possible, uh, in that 284 zone. Uh, the 50-week moving average is 284.19. So, that is still possible before continuation higher because of closing below that, uh, weekly conversion line and the weekly baseline and the 886. So, we are going to be looking at that level too, right? Try to get at least back above 318.95 next week. That would be the first step of going higher. But I think, uh, because of all the confluence that I see, I think price just might want to get closer and closer to that weekly cloud, uh, before it's ready to go higher. So, that could be a few more weeks or a little bit longer. But once it's ready and once it breaks 380, I can see all-time highs after that.
And next, we have MicroStrategy, MSTR. And this did, in fact, close below some levels. So, it did close below the arc again, which is around 271. It closed below this 1.272 fib for the first time, actually, since, uh, October 2024. So, basically a year, a little bit more than a year, it did, in fact, in fact, close below that 245.46. So, is that going to be something that we're going to worry about? Well, I'm going to show you a few things. Um, why? Oh, also, it did close below the, uh, 100-week moving average too, which is at 245.76. So, there is a lot of fear out there still, even after that recovery from the bottom in the 220s. It did bounce. But the reason why I think it has a chance for stability is because things are kind of repeating from before.
So, the low here on this chart was right here at 231.51. And in fact, we did get some liquidity below it and it closed above it. So, in fact, there was no lower low, right? It was a higher low before. And this is reminding me of something similar to last time, right? You can see price right here back in April of 2024. It did go back down to that level again. And it even went back below that green GAN level. And it went back below the previous 2021 high as well. And it didn't make a lower low either, right? It didn't even wick below. But also, it went back down to those levels for kind of like a double bottom. I think that's something that that we're seeing similar right now, right? See, it closed below important levels last time as well, the GAN level and that previous 2021 high there, which was 131.50, and then that led to the recovery, right? That led to the recovery and actually the explosion higher.
So, I think as long as we don't make a lower low from this market structure at 231.51, I think it's just going to spend some time making people scared and acting like it's going to break down lower. But in fact, I think it has a good chance of recovery. So, what I am going to focus on in the weeks to come is that zone 245.46 right up top and the 231.51. So, I don't want to see it close weekly candles below it. During the week, sure, it can go below it, but I don't want to see it close below. And I want to start seeing stability and closing back above this 1.272 fib right there, which is, uh, exactly at the, uh, 245.46. So, it's range-bound right now. It's trying to bottom. In fact, currently, it is a double bottom, right? I know people see think it's like really rounding and it's just going to collapse. But I think what's really important that a lot of people forget is market structure. And as long as there's not a lower low, price can stabilize. So, going through levels, closing below levels is not that scary if market structure holds, which it is. So, stay above that 231.51, and there is a chance for bullish continuation.
And next, we have Robinhood. And Robinhood, I do have the fib from the February high to the April low. And I want to focus on this the most because I think what we're seeing is really, really good developments on building a base at the highest levels ever. And here's a good example of it. Once it broke out of this 1.618 fib at 110.62, it really never looked back. But because of that, a lot of people think that it needs to come back down to that 110.62. Uh, but I don't really think so. And the reason why is because of this linear scale 127.18. Uh, I know you probably saw on X where I posted it needs to stay above 130, but really I was talking about this 127.18, and I just wanted to wait to make a video to show you guys because this is just building a nice, nice base right on top of it. And in fact, back in September, once it broke out, it back-tested it so many times, three weeks in fact, that it just is stabilizing right on top of it. So, 127.18, that's the level.
Uh, one thing that did happen this week was it closed below the weekly Ichimoku conversion line. That's 131.99. So, that is kind of a, a little bit of a trend change. The last time we saw that, it was kind of a fake out. So, maybe it's a fake out this time. But if it stays below this 131.99, then there is a chance of longer consolidation, and there is even, in fact, uh, uh, a chance of going back down towards the 114.29 if it can't break back above. So, we're going to watch this zone, 127.18 up to 131.99. Try to just keep stabilizing, just like it has week after week. And if successful, we don't need to go lower. But if it kind of starts to get into some trouble of not being able to break above that conversion line with weekly candle closes, then that could put more pressure on support and it could lead to prices wanting to retest a little bit lower first before higher, maybe that 114 zone. But I don't think that's anything to worry about because after this consolidation is finished, it is likely to just continue towards the 160s and above. So, it's an extremely bullish chart. Don't really need any other indicators because price is following these fibs perfectly. And I think we're just going to be waiting until maybe this baseline gets a little bit closer to price before it makes its next leg higher. So, 127.18, watch that week over week. If stability happens like it has been, the trend is your friend, then it's going to continue higher when it's finished consolidating.
And next, we have Meta. And Meta, I do want to focus on this chart because it did, in fact, close below that 646 area. 646, 645, closed below it the week. So, we got to put on a little bit more indicators and show you the Ichimoku cloud right here, which is down here at the 590s. And I'm going to just make a case why it, I don't think it really needs to go back down there and touch it. I think the bottoming process is in. And in fact, I did tell some subs, subscribers that I, I think that it doesn't really need to go down there as well because I, I look at this chart and I can see that it's just trying to bottom. And what price did this week, did really just close this gap. So, that is a very bullish thing in itself, right? We can see this gap from May up here till, yeah, in May, May 5th to May 12th, that gap was closed with that wick. It was filled. So, that is bullish in itself. And I think doing that is a super healthy thing. And we can also look on the monthly chart as well. Seeing this conversion line right here can really act as a monthly support. There is 20 days left into the month. Has plenty of time to recover and close back above. And when we combine that with the Bollinger band here and take a look, it just touched the 20-month moving average again, just like it did back in April. So, I think this could be just the bottoming process, right? We're starting to create a wick, just like we did last April. So, this, this basis here of the Bollinger band is really, really telling a story that I think it's just needs more time to cool off and it's not ready to break into all-time highs yet. But having this double top of that 20-week average and filling that gap that I showed you on the weekly chart right here, um, go turn that off. Yeah, the weekly chart right there. This is bullish, right? This is something that has really great potential to hold. And I, I think we're just going to be waiting to close back above that, uh, 646. Once we start closing weekly candles back above 646, uh, then I think it'll be time to make its journey back towards the 700s. And then once it's back above 707 and this arc again, then we'll start talking about the 900s and a thousands above. So, this is still on a mission towards all-time highs. It just got a little bit delayed because it was waiting for a lot of averages to catch up, catch up to price. So, the main thing, the main takeaway here, let's just keep watching that monthly moving average as support, not on the Ichimoku, but the Bollinger band, because if the 20-week average keeps holding at 604.11, then there's really no need to go lower towards that weekly cloud down here, and we can find stability. And there was a very positive reaction off that monthly Bollinger band. So, just keep watching that and then wait for price to reclaim that 646. And once it does, I think the uptrend can continue after that.
Next is HEMS, and HEMS did show a little bit of weakness this week. It closed the week below a lot of things. It closed the week below this arc. It closed the week below this angle. Well, we've seen that before, right? It closed the week below that angle here, here, here. So, going a little bit below things is not the end of the world. But it also closed below the weekly Ichimoku cloud, which is a sign of, uh, kind of a temporary trend change. We have not seen a weekly candle close below that, uh, since it broke out in February of 2024. So, this is kind of a big deal to pay attention to. But also, at the same time, when we just draw a line here, uh, it did not make a lower low, right? The 40.78 is that low. It closed at 41.03. So, it did not make a lower low. So, the market structure is still fine, uh, just like here, right? Back here and here, it did not make a lower low, and it did close below that angle, but it was still above the Ichimoku cloud there. So, I think what we're just going to watch is that low.
And also on linear scale here, I do want to show this fib from the, this is from the 2021 top and the and the 2022 bottom. It actually finally back-tested that linear scale 1.618, and it hasn't done that before. So, that's a very bullish thing, right? It never did it back here in June or even in August or September, but it finally did it yesterday. So, 39.42, that is one area of support to watch. And I think what we're going to see worst-case scenario with HEMS, because this trend is still very powerful, is when we switch to the monthly chart here, and we can just put on the Bollinger band. And when we do that, we can see this basis here. That's the 20-month moving average. And in fact, it's never touched it since it broke out. It broke out in November of 2023, and the trend has been so powerful that it never touched it. So, I think if we're looking at worst-case scenario, since it did close below levels and it did just barely touch that 39.42, I think what we're seeing is a potential of maybe it's time to touch that 20-month moving average, and that is at 34.25. So, if you're looking at it like a max pain scenario, now that would be it. But to say this chart is in danger of collapsing, I would say no, because the trend is so powerful. You can see there's really been no higher low this whole time. It's made like little tiny higher lows, little tiny higher lows, but the trend has been so powerful, and it's just a volatile stock. Like some, some months it goes down 36%, then it goes up 30%. But it's just a very powerful trend.
So, we'll let it cool off a little bit. Let it try to build a base around that $40. Let's see if it does want to keep holding that lower low, uh, before, and or not make a lower low, and keep holding that 40.70s that I talked about. But if it wants to go back during the month of November or even December, if it wants to go back and touch that 34.25, I think that's perfectly acceptable because it's never done it since it broke out. So, at least a touch before the bull trend continues, that's fine with me. And I still think when we look at the log scale fibs right here, right? We go back to the log scale. I still think the 1.618 is possible, right? So, whatever it wants to do in the meantime, retest a little bit lower, try to consolidate a little bit longer, that's fine because once it breaks back above 46.64, then 64.05 is next. And then I still think the 1.618 is at least my minimum target for this, uh, stock, 101.3. So, very, very bullish. But the cool off could continue for a few more weeks or a little bit longer until it's ready to continue higher.
And now it's time for Bitcoin. And Bitcoin, we can see that the 1.272 fib is still trying to hold on. The last time it battled it was back in June. Actually, it was back in May and June, right? It was battling it the whole couple of months. But what we're really seeing is it's still trying to build a base on top of previous resistance flipping to support, which is very bullish, right? And we can even go to the monthly conversion line of the Ichimoku and just see what the reaction is doing there. And the trend is still very much alive. 100, 353. That is the level to maintain, and it has been holding since it broke out, ever since March of 2023. It's been holding that as support and actually never closed any monthly candle below. So, the trend is still alive. Nothing is in danger of being lost at the moment. But the goal is to continue to close weekly and monthly candles above this 103.611. So, this Sunday is going to be the weekly candle close. That is really all I'm focused on. 100,353, close above it, then the trend is alive. And also 103,611 would be even better to keep that trend alive as well because on weekly charts here, it has been closing above that ever since June.
Now, there is a little bit of a, a trend change of closing below this baseline and conversion line. We did see that before back in March before it got closer to the cloud. So, I think it's doing the exact same thing. Just needs to get closer to the weekly Ichimoku cloud before ready to go higher. So, let's just give us a little bit more time. And then once it is, uh, a little bit closer, I think it'll be ready to go back towards this 128 and then the 170s above. So, I don't think this bull market is over. I think it's just still a normal consolidation, and it's just shaking out all the last weak hands before it wants to continue that journey higher. So, this is a healthy chart. 100,000, 103,000, that's the range to maintain, and that's the only focus for me for Bitcoin until it's ready to go higher. So, it's just patience, right? Just have some patience. But it is still a previous resistance flipping to a support.
And lastly, we have Ethereum. And Ethereum has had a very positive reaction off of a lot of indicators this week. So, from the 2021 high to the 2022 low, price is, uh, really just back-testing some deeper levels, but nothing is breaking. And really, price is getting back to where levels were back in early October, right? Like Octo, that October 10th low. We're right back there right now. So, when we look at this chart and we also combine the moving averages and the Ichimoku, we can see what really happened this week. Price just wanted to back-test the 50-week moving average, almost this blue 100-week moving average, and just get more liquidity down there. And I, I think there's a great chance of just maintaining this 3376. That's the 786 fib. And if so, then there's really no loss of anything because since it broke out, all it was is another successful back-test of this breakout back in July. Sure, it lost this 886 fib, but all that means is more time. It doesn't mean that things are going to just collapse. Very healthy chart. Things I'm watching for this Sunday's weekly candle close: 3376. And even better yet would be closing back above this baseline here, which is 3535.5. If it can reclaim that, then I think we could actually get a breakout back towards all-time highs sooner. But if not, then maybe just build a base a little bit longer. Perhaps it needs to get closer to the weekly Ichimoku cloud as well. And then after that, we could see the continuation towards all-time highs. But once we're back above this 4006, then I think it'll be really time for this chart to continue the journey much higher after that. So, bullish developments and, uh, very, very bullish back-test. In fact, while not even making any kind of lower low from from the previous breakout, right? The July, July low, it's holding like a champion. And especially all these lows down here, the trend is very, very powerful from the bottom. Higher highs, higher lows, higher highs. This is just a higher low before it wants to go higher. So, bullish chart. Stay above 3376. That's what I'm watching the most going forward.