SPACEX One last correction to $100 may be the market bottom.Space Exploration Technologies CorpBATS:SPCXTradingShotMore than a month ago (July 7, see chart below), we posted a post-IPO roadmap for SpaceX (SPCX): So far it has been following this structure fairly closely, with the price declining almost as low as $100 and then rebounding to $150 again. As mentioned on that analysis, the $100 – $150 range can be treated as the potential macro accumulation area. If price spends enough time consolidating inside that zone, it would indicate that the market is moving from emotional post-IPO trading into a more mature institutional accumulation phase. That is usually where the strongest long-term trend reversals are built. The most important technical level on this structure is the $150 - $155 Resistance Zone. A confirmed break above that area would be the first serious sign that the accumulation phase has ended and that buyers are starting to regain control of the trend. Above that zone, SpaceX could enter its main expansion wave, with the first major upside area around $220, followed by a potential macro target near $270 (the 1.236 Fibonacci extension from its current All Time High). So far that's not happening. And the fact that the price has spent its last 5 days consolidating just below $150, just shows that buyers don't have (so far) enough strength to push above it and as long as the market stays under it, the selling pressure will gradually pile up and confirm our idea above, that it is the most critical Resistance Zone. What we do expect to happen next, is a final Bearish Leg to $100 or even $90, calling it a 'Capitulation Bottom'. A few months of price maturity consolidation within $100 - $150 would serve as a market discovery Accumulation Phase that will reveal when the long-term buyers will eventually prevail and break and turn $150 into a Support for the expansion wave. As mentioned in July this chart simply suggested waiting for the market to complete its emotional post-IPO reset, form a deeper accumulation base, and then confirm the reversal through the $150 – $155 breakout zone. So far SpaceX continues to follow the classic post-IPO cycle: euphoria, distribution, capitulation, accumulation, breakout, and expansion. The biggest value will be found not now but after the market builds a strong enough base after this first major correction that it had, in order to create the structure for a sustainable long-term trend. Technical Roadmap intact Bullish confirmation: A break and hold above $150 – $155. Accumulation zone: Between $100 – $150. Deep value zone: Around $90 – $100. Upside targets: First target $220, macro target $270. Invalidation risk: Failure to reclaim $150 – $155 after the correction would keep the structure neutral and delay the bullish expansion scenario. --- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** --- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇