Transcription
Time for the Tesla and Palanteer weekly update. Also going to include uh Coinbase, Micro Strategy, and a few others as well. But first, let's take a look at Tesla.
And as usual, we're going to take a look at the 2021 high and the low here of 2023. So, this did close a second week below it uh for 1450, but it didn't end it last time, right? Last time it did close a tiny bit below it right here back in October. Uh but then it recovered and then this time it was like a bigger kind of bearish engulfing candle that did close below it. But the good news is with Tesla is this gap is finally closed, right? So if this gap is closed, it does have a potential to recover quicker and sooner.
Um, and also if we go to put put on the other indicators as well, the Ichimoku and the SMAs down here, uh, we can see it is getting closer and closer to retesting that baseline down there, which is 37364. The 50WE moving average is still down there at 350. And there's a lot of people on X saying 350s are likely. And to be honest, it kind of does open that door. Closing back below this does open the door for a deeper back test of that 886 zone. But that is not bearish at all. Right. This is one of the most bullish charts in all the stock market because we do have a chart that's essentially building bases at the highest levels ever. And it's clearly seen and it's evident here on the monthly candles here that we have not really experienced any kind of monthly candles ever this high up month over month over month. So it is a trend change. It is something very powerful. And even the monthly converge line down here is still at 344. So if it even wanted to go back down to this 353 that is fine right all these wicks right here right here is a wick is a wick is a wick is a wick as well this is all previous resistance even over here it was previous resistance so if it needs to go back down to the 350s that is fine but I am always about one level at a time right so 41450 that was always my level to pay attention to now that it broke with the weekly candle close we can actually go to a different set of fibs here on uh linear scale And from the 2024 top and the April bottom of this year, we can see that it also closed below this 40680. I mentioned this number on X last week because this is the important number to try to maintain to continue this trend. Right? The trend is it broke out back in September and it's never closed any weekly candle below it until yesterday. So 40680 was lost but this 38376 is still holding. So it will only go to the 350s if we lose this 38376. So this is the very important number. You guys can write that down. And if we stabilize above it, then it's going to be okay, right? You can just spend a few weeks there trying to build a base again and then go higher. But we're not really in a situation where it's just going to collapse. All price is doing right now, right now, is trying to find a higher low. That's it. Right? Since it broke out in September, it has really never found a higher low. It was just consolidating sideways. So now we're getting that attempt to find a higher low. Also, when we put on the Ballinger band here, we can look at the 20 uh week moving average, which is also there at 376. So that could be back tested as well. Um but that's right around that 380 zone. So, it's not a guarantee to get to the 350s, especially if this trend of the 20week average does maintain, right? If it maintains 376, 383, if this zone holds week over week over week, then we could experience a new bottoming process there until it's ready to go back to all-time highs. But again, this is still one of the most bullish looking charts in all of crypto. And we just need a little bit more time of consolidation so it can really find its higher low. It might be this week or it might have one last lower low first before continuing that journey higher. But this is an extremely bullish chart and uh the gap closing this week is very very bullish as well for the future. So we just need patience as usual, always patience until it's ready to continue higher.
And next we got Palanteer. And Palanteer is still a very simple analysis uh because it's really really healthy. It's a very bullish chart also one of the most bullish charts in all of stocks. And uh this previous 2021 top and the bottom down here, it's really still very healthy and it's building a base still on top of this 15762. But even better, we just switch it to linear scale. We can see a more clear picture of what's going on. And it's actually still closing weekly candles above this 4.236 at 17146. So it's not even guaranteed to go lower to this log scale fib uh down here, which is at 157. Right? If the 170s continue to hold, which that is the trend right now. If this 17146 continues to hold week over week over week, which it has been since it broke out back in September, then the trend can continue higher and higher and higher. So, nothing really scary about this. Also, we can look at the Ichimoku. It still has not even touched that baseline, right? It almost touched it, but not quite. Just so so close. And now it's at 16323. So that is a possibility next week to maybe just keep on wicking below this 171 and retesting the 160s over and over again. That's also fine. But this is just needs time, right? It just needs time to cool off, maybe get closer and closer to this weekly cloud over here until it wants to go higher once again. But there was a good development this week and it was with the Ballinger band. And if we do put on the weekly Ballinger band here, we see that it finally it finally touched that 20week moving average there at 16854 for the first time since it kind of broke out in April. So since the April bottom boom touched it perfect back test. So we are not really even guaranteed to uh go wick below it below it again. Uh we could but still very very bullish. So, the trend is your friend and all we really need to do is keep watching this uh 17146 and the 16854 area. There's not much else to watch. We can watch the other fibs too here, which is from the April or sorry, the February top and the April bottom. And that's also just stuck in between the 186 and the 163. So, so much confluence that it's just rangebound. It's consolidating at the highest levels ever, building a base until it's ready to go to the 200s and above. And this is still looking like a $200 plus stock in the future. And what I'm watching most is uh yes, the 16346 down here, but more importantly, I'm watching the 171 down to the 168 for next week. Just keep stabilizing above it and it's going to continue higher.
And next, we have Coinbase here. And Coinbase, we can see price is still in search of its higher low. And uh using the fibs from the 2021 top and the 2023 bottom, uh we can see the 31895 is still in focus and it's closed the second week in a row back below it. So in fact, we did also go a little bit lower than the previous 293 I've been talking about as well, which was the important monthly conversion line, but the month is not over yet, right? The month is at 29361. So there's still 13 days left to close above that convergence line, but even still that con that baseline down below is at 257 to kind of catch it if price needed to do that. So it's still in the right vicinity of support and we can see that it's getting closer and closer to the weekly cloud as well. But one thing I do want to point out the most is price did maintain the 50week moving average again today uh with a 28394. It barely closed above. So the trend is still uh it broke out, back tested it last week, got even more liquidity lower this week, but it's still maintaining it as a support. So nothing is broken and even even if it wanted to retest the cloud, that is not a bad situation either because that is where the 100week moving averages, the top of the cloud, the 786 fib at 245. So that is a possibility as well. And people think that these deeper back tests mean a bare market and they don't. Coinbase has proven that over and over again, right? Uh we can see that price did go right here, right? We can just take off these fibs right here. But you can see price held this line and then it did one last lower low and went higher, right? And then we can see right here price right here held this line and then it made one last lower low and went lower and and was was the bottom. So we can see the trend happens all the time and recently that 293 it was holding holding holding and now it's getting one last lower low before it wants to resume the trend higher. This is just the trend of Coinbase and optimally it would be best to stay above that 293 but it doesn't have to because it's a volatile high beta stock and deeper back test just make it more and more possible to go higher and higher in the future. So yes, fib extensions are still possible. We can see that they're up here in the 800s, the thousands, or even higher. They're still there. And this is a a classic bull trend. Once it broke the cloud in 2023, it's higher highs and higher lows and higher highs and higher lows, higher highs, equal low really from here. And it was like a double bottom and then it just launched it into space. So now we're just searching for our next higher low uh which could be in the 245. But it's not a guarantee. And the reason why it's not a guarantee is because I can show you with this linear scale fibs right here. We can zoom in and the linear scale actually held perfectly. Uh 27751. So if we're going to watch anything next week, it's going to be this two uh 50we moving average right here. The 50we at 28394 and this 618 linear scale fib at 27751, which is a big previous resistance zone trying to flip to support. So, it's still not a guaranteed to get down towards that 246 yet. Not a guarantee at all. If this 27751 continues to hold. So, if we're going to watch anything next week, watch this 283 277 zone. If price can continuously stabilize above it, then we can now establish a little bit of a base and then continue the journey higher sooner. But if it needs that extra liquidity lower, that is still acceptable because that has been the history of the stock and it's just a high beta name. So patience is needed as usual with Coinbase, but nothing is broken, nothing is bearish. It's just finding a higher low before it wants to resume its uptrend.
And next we got MSTR. MSTR did finally make a lower low, right? We can just delete things here and show you what happened. Well, there it is. That low right here. It finally closed a weekly candle below it which is confirming that it wants to stay in a downtrend at the moment. And when we put back on the fibs here, we can see that the 24546 also second week in a row closed below. We can also put back the uh GAN square up here and that is up here at 271 272. So that is also a resistance. So now everything above is really a resistance and there's really nothing as a support right now. We can switch it to linear scale right here and show you that it even also closed below this 20457. So a lot of damage has been done to this chart, right? A lot of damage has been done to this chart. So this is kind of confirming to me that I don't think it's ready to continue down, right? Or I don't think it's ready to continue up uh for the time being. we have to confirm that okay this previous uh 1.414 414 is at 18045. And so if it can't break above 20457, guess where it's going to go? It's going to go to 180, maybe even 160 next. So in order for this chart to have any chance of getting more bullish, we have our number. It's 20457. So as long as price stays below this 20457, this is going to remain in a downtrend now because of this lower low and because it keeps on breaking support zone. So, this chart is getting more and more um scary as time goes on if you're a long, if you're a bull. And uh breaking below this 281 actually set the stage for all of this happening too. So, the signs were there, but I always kind of wait for a little bit more confirmation with market structure, especially making that lower low here, and we finally got that. So, until we really get back above uh this previous lower low here, this previous low right here, let's I put it on. Until we really get back above 23151, there's really no chance of going back up to 280. So, we're in a powerful resistance zone right now. And that's 20457 up to 231. And until this zone gets cleared again, this is going to be remaining in a downtrend. and it's going to be remaining towards the it's going to be headed towards the 18045 and the 163 below. So this is basically the last chance for it to just uh uh stabilize to find stability here. And if it does find stability there, then it has that potential to eventually continue that journey higher. The one thing that we can focus on though, if we go switch back to log scale right here, we can put on the monthly Ichimoku cloud and uh this is still in a bullish trend, right? Let's go. Let's see. The cloud is still way over here. So, if price did need to go back down to this zone, let me just take off some of these indicators right here. If price did need to go back to this zone and consolidate for a long time right here where all these monthly candles were, that's a wide zone. That's basically the the low 100s up to the 200s, right? This is the zone. But if price ultimately needed to consolidate in this zone for months and months and months and then touch the monthly cloud down here at the 113s, that could be the possibility before the next uh leg higher. So that could be u maybe a sixmonth or even longer consolidation until it's ready to go higher which could also mean the same thing for Bitcoin in the future as well because there's a lot of demand here. There's a lot of demand here and price could actually just gravitate to there and stay stuck in that demand zone for a while. So would this be considered a bare market? I mean I guess so. Right? If it does last until maybe May or June of next year, that would probably be like a six, seven-month bare market or just a consolidation until ready to continue higher. But it's not guaranteed to go straight to this cloud down here yet. We still have the those linear scale fibs that I was showing you before. So, we can put those back on. And uh right here the linear scale we can see as long as we can ma maintain in this 204 to 163 zone then we can see the cloud over here and then maybe it can just consolidate in this zone until it gets closer and closer to the monthly cloud over here which would be November of next year uh until going higher. So either way, if we stay below this 2045 57, we could be in store for a long long consolidation or even a 6 to 7mon bare market down towards the low 100. So be cautious with MSTR right now until we get more clarity. And ultimately, like I said before, that 204 to 231 zone, that whole area needs to get confirmed and flip back to support for any chance of the bull market to return for MSTR. Right? This is now in a downtrend. It's confirmed with market structure. It's confirmed with all these uh breaking of supports and it's been confirmed since uh it made that lower low. So until we get back above that 231 zone, we're going to be just in a sideways to down consolidation for a while until it finds its next stability for price to reverse and go higher.
And next, we got Robin Hood here. And Robin Hood, we can see that price finally did close again below this blue conversion line right here. That is at 13314. So this is kind of confirming that it wants a longer consolidation as well. And uh the focus is this 110 down to the baseline here at 10677. So this is a good zone for potential accumulation, right? It's a previous resistance area trying to flip to support. It still has not touched it. So that means there is a potential to continue down and go a little bit lower first before higher. Also, the weekly cloud is down here. And if it if it just wants to consolidate sideways, it could wait until maybe January or February to get closer and closer to the weekly cloud before it takes this next leg higher, too. But nothing is broken on this chart. It is extremely healthy. It just lost the conversion line a little bit as momentum. So, we're just going to keep consolidating, right? Let's just focus on this zone 110 106 since the 133 broke as support. And until that conversion line gets flipped back to support, it's just going to be a sideways to down consolidation in that 110 106 zone. Maybe even a little bit liquidity below in the low 100s is possible as well. So extremely bullish chart. We're just going to keep on watching that zone until it goes higher. Very simple analysis here because there's nothing broken. It's just exploded higher, consolidating sideways. So perhaps a little bit more down before it wants to continue to the 180s above.
And next I want to talk about Galaxy. and Galaxy. We can see that chart is uh breaking below the 886 fib again which is 2777. I did make a post on this on X that I hope it actually goes a little bit lower than that because I want more accumulation of this uh stock because it's just really really bullish right from this green 45 degree angle. This has been basically our trend and it's been in a massive uptrend since like the two $3 range. So, uh, all that happened was price ultimately got rejected here at the $38 zone, which was the 2021 top. So, because of that, it's not ready to break free. And then we got the green gan level up here at 55. But the trend is your friend and it's probably going to the 50s, the 80s, and everything above as well in the future. But it might need a lower back test first. And maybe, just maybe, there's a there is confluence here at the 2110, the 786 with the arc down here as well, which is also a previous resistance area right here, here, over here, here, here. So, back testing that would be perfectly normal, especially it never really back tested it back in September, right? It fell a little bit short because the ARC was there as support, but now the ARC and the 786 are back there as well. So, that is the possibility to go back down there uh in the near future, but it's not a guarantee, and I'll show you why here. If we put on the monthly candles with the Ichimoku cloud, we can see that the baseline, this orange line right here is at 2465. And there still has not even been a touch of that baseline yet. So 2465 would at least have to be broken for it to have any attempt to go to the low 20s. So it's not there yet. Extremely bullish chart. All we're in we're all we're looking at now is just a consolidation period. So big breakout. It broke through the monthly cloud as well. So any kind of weakness is opportunity on this stock, especially if it goes to the low 20s or or even 19s. That would be amazing for accumulation because then that would mean price is uh got found its higher low and it's getting ready to continue towards the 38,4s and 50s above. So I'm looking forward to these dips as opportunities. I'm looking forward to if it gets to the 24, especially if it gets to the low 20s there, I I will be grabbing those shares up because this is extremely bullish for the future. And ultimately, uh nothing scary about this. Even closing below that 886 fib, uh we'll go back to weekly chart. Even closing the week below that 277 is no big deal. No big deal at all because this is all part of the process of higher highs, higher lows, higher highs, higher lows. It's all part of the process of market structure. And that last lower low was right here around uh $22. So, you know, even if it does not want to go down there, that's okay. I think I will be adding some next week, no matter where price goes, because it looks like it just is trying to get closer and closer to the weekly cloud before it wants to go higher. So, bullish back test before it's ready for the 50s, 60s, 70s, and 80s above.
And next, I want to show you CLSK. And CLSK, what do we see here with this chart? Well, massive breakout, massive back test, and this is always the pattern for these kind of stocks. And um this had an opportunity to try to hold this 1360s as a support, but it decided that it needed more liquidity lower to get that uh liquidity. So 1078 is this 382 fib. The 50week moving average is 11:05. It did close a little bit below that, but this 1078 is from the 2024 top and the 2025 bottom. and uh it's it still hasn't even touched. So, if we're looking for some chance of stability, we're going to be watching that 1078 uh next week. But, you know what? It's finally inside the cloud. And this is a trend change in itself because since it broke through the cloud back in July of 2024, it could never, and I mean never break above until recently. And now we broke above and now we're back testing inside the cloud. So this is the exact opposite of what we were experiencing before, right? Before we were experiencing getting rejected at resistance with the top of the cloud. Now we're inside the cloud experiencing support. So this is still the opposite effect and it's still bullish, right? Higher highs, higher lows, higher highs, higher lows. So if we're going to watch anything next week, let's watch this 11:05 1078 zone. Uh even the bottom of the cloud is still fine as well, too, which is around like 10:06 or just the $10 range. But essentially, price can travel anywhere inside this cloud and still be a trend change from what happened before. So, let's just keep watching this whole zone, especially 1078 next week and see if we can find stability there. But this is not a broken stock. It's still pretty healthy because it's doing the exact opposite what it did before. So, pay attention to the structure, pay attention to the patterns, and this is a bullish structure getting ready to get more bullish. Also, when we go to the monthly cloud, too, we're finally inside the monthly cloud as well, right? We're finally inside here. We're just not ready to break above above the top of the cloud, which is at 2165, which is exactly where it got rejected last month. So, this is still a very massive trend change, right? A previous resistance getting rejected at the cloud here back in March of 2024, it's finally entered it. And this uh being inside this monthly cloud and the weekly cloud is setting up beautifully for continuation. It's just if you have enough patience to withstand it because once it's ready to break this cloud up here at 21s, all of this becomes possible. The 35, the 40s, the 50s and above. And it's setting up that way because it's finally in the cloud. So, I'm getting more and more bullish on CLSK in the future. And I think uh just be patient. Watch that 1078. Watch each level at a time. 10 uh 1263 is the next level to break. And then we got the 1360s and above. So, one step at a time, but right now it's just a back test of support, a huge support zone until ready to continue higher.
And next, we have MARA. And I know a lot of people are hating Mara so much. So, let's zoom out with MARA here because the monthly candles are actually telling a story. And the story it's being told is that it's rangebound. And the range essentially has been spinning the majority of the time between the 618 fib and the 382 fib 1093. So since it broke out back in June 2023, it got a little bit of liquidity below and then the majority of the time it's been inside that zone inside that zone. So it's essentially just a very long sideways consolidation in reality where it's not just ready to break that 2375. It's not ready yet. So, if we're looking at anything for a high time frame support, it's technically just that 1093 still right here, this uh double bottom potential down below. So, maybe it's not ready to continue lower just yet or continue higher just yet. Maybe it just needs a little bit more liquidity. But also, I'm watching something interesting here with the 100month moving average and that's this blue line right here. And it is finally flattening out, even trying to be upward sloping as well, which is a trend reversal, right? It has never been upward sloping ever in the history of life. All right. So, if that 1303 can actually continue to hold and continue to uh support price as well, uh then we can continue the journey higher. It's just not ready to break resistance yet. So, we're in a high time frame support zone. We're in a high time frame whole accumulation zone between 23 and 10 bucks. It's just a very long consolidation while not making any kind of lower lows. Right? You can visually see this 1093. It's not any attempt of lower lows since the bottom of 2022. It's a higher low. It's a higher low and still a higher low. So market structure is not broken. Nothing's broken. And in fact, there's still 13 days left until this monthly candle closes. So it could still just be another wick, right? Another wick below. Another wick. Another wick. It's that's the pattern. It wicks below sometimes closes below the 100 month, but the trend is it wants to hold it like a magnet. So this 1303 1093 zone, it's all acceptable because it's healthy, right? And if we put on the Ichimoku cloud, we can see it's just not ready to enter the cloud, too. It's gotten so close before to the monthly cloud. And it's not even ready to enter the cloud yet. But this once it does enter the cloud, just like everything else, it'll be a bigger trend change. And it'll have the ability to go towards the 30s, the 40s, the 50s, and above. So, uh even though the sentiment is very bearish on MARA, I'm not giving up on it because it's a healthy chart, right? is still just a very long multi-year consolidation sideways and sometimes that's necessary to shake everybody out to make them lose confidence until it's ready to continue that journey higher. So next week, next month, this whole rest of this month, I'm just watching 1303 down to 1090s and just stay in that zone, right? Just keep building the base in that zone until we're ready to break through this fib right here, which is right there at 1611. Once we can get back above 1611, then we can start talking about higher prices again. But rangebound, consolidation, multi-year, uh you can visually see this is a beginning, something uh powerful in my opinion. It's not something that's ending, right? This is something that was very bearish before uh because it was lower highs and lower lows, but now we're the exact opposite. Higher highs, higher lows, and still higher low, higher low. Just no higher high yet. And that's because there's a massive amount of resistance here that it has to break through until it's ready to continue that journey higher.
And next, we got Cipher here. and Cipher. We can see that price did go straight up to the arc here, but it never had any ability to close above that arc. In fact, it did close right there at 2069 uh last week and this week it also closed below this arc and uh a little bit above that baseline which is at 1430 and price closed at 1436. So, we're still holding the high time frame support zone, but it did break below this previous 2021 top right here, which was in September of 2021 at 1539. So, we did lose a little bit of support and then we lost that conversion line, too. So, this could still take some time to consolidate uh before ready to go go higher. But, one thing I do want to point out on the monthly candle here, we can just take a look, take this off, and look at the the monthly conversion and the monthly baseline. They're at the exact same price. They're 1369 and price did touch it this month. So there is a positive reaction off that. So what we're going to do for the rest of the month is just watch that. If 1369 can maintain as support throughout the rest of the month and close candles above it, then I think it can get back above the 1539 and go higher. But if we start to close candles below 1369, especially a monthly candle at the end of November, then that does open up the possibility of a deeper back test back to the 886. But again, going back to the 886 is not a bearish situation because that is also where price broke down for the bare market back in 2021. Uh so back testing it as support would be perfectly healthy. And like I always say, anything above the 886 is a perfectly healthy back test. And um it's just setting up for all-time highs. So, no matter what, I think we're in in in uh it's time for a consolidation period. So, it could take some time, maybe weeks, maybe even months. But, uh we're going to watch this 1369 first, take a level by level. If it holds, great. It can go higher. But if not, maybe a deeper back test to get more liquidity below back in the low 10s. But either way, the fib extensions above are likely like the 42s, the 70s. I think that's all coming for Cipher in the future. We just need to withstand this volatility because it had a massive breakout and things that broke out massively. You don't want to chase that. But if the back tests do come, then that's the opportunity for the bullish continuation higher. So I'm watching 1360s down to 1010 next and to see if this zone can hold. If successful, then we don't need to retest any lower and then we can continue that journey higher. So bullish development, but this takes time because it had a massive breakout.
And next we got iron here. And iron after multiple weeks of getting rejected at 60 6972. This should not be a surprise why why price wanted to go retest lower levels. So because of that uh that's exactly what it's doing. Can't break resistance. It goes back down to retest support. And it did break through the bottom arc here which I have been talking about for a while. So that was the support that was lost. 5549 is also the convergent line that was lost too. That's been a trend. So because it lost that support, I think we might still continue to need to back test lower. And the reason why is the baseline is below at 42.49. Also, the uh $34 zone is the green gown level below. And just like Cipher, right, the previous all-time high is down here at 28.25. So all of that becomes possible since it broke this arc. And if it can't break back above the 55$56 zone, then it is likely to have a longer consolidation and maybe sideways to down is likely before going higher. But that's perfectly healthy because it had a massive breakout. So anything that had a massive breakout can have this kind of volatility and is really normal, really healthy before it wants to make its next journey higher. So things that I'm also watching is the monthly candles too. Still not even touching the monthly conversion on baseline. That's at 41 and 39.83. So patience, right? Huge breakout. This is our first red monthly candle uh in the past like seven months. So, we're going to just need to let this play out. If it can't break above back in the arcs, 55 56, then low 40s, high30s, or even mid30s is the next target zone. But what I would like to see is technically a back test of this GAN level, right? That's what I would love to see because breaking out of GAN levels and back testing them, maybe getting some liquidity below it is a super healthy development for bullish continuation. So cautious at resistance as always and the more the lower it goes the more and more bullish we can be and if it does get to those mid30s or even a little bit lower that is the opportunity right it's not up here at resistance buying at resistance your riskreward is terrible so always cautious at resistance and more and more bullish at support the next level I'm watching for next week is 4249 we'll see if that can stabilize but if not a deeper back test is so healthy for continuation so don't be fearing iron here just let it happen. Let it consolidate a little bit. Let it find its new higher low. And after it's done finding its new higher low, no matter where it's going to be in this zone, it'll be ready to make its next leg higher towards the 69 and the 100s above.