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$SPACEX
Entry Zone: 2,450 - 2,490
SL: 2,370
TP: 2,620
Current structure still looks bullish overall. The strong expansion candles pushed price aggressively higher before momentum started cooling near 2,530. The appearance of smaller red candles right now looks more like healthy profit-taking than a confirmed reversal.
The ongoing IPO narrative and huge valuation expectations between $1.5T and $1.75T are still driving strong speculative momentum around $SPACEX . Traders continue chasing the hype aggressively.
Best approach here:
Avoid entering after extended vertical candles. Waiting for a pullback and stabilization is the smarter setup.
If price loses the 2,370 level, the entire structure begins shifting from continuation strength into potential bull trap territory
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