$SPCX (4-HR): Range established between $157/160 & $175SPCX / Tether PERPETUAL FUTURESMEXC:SPCXUSDT.PColdBloodedCharterAfter Friday's debut, a key price range is emerging between $157/161 and $175/176 SPCX (SpaceX): 4-hr I'm still using the non-standard chart from Nasdaq, but rather the chart from a crypto exchange where it was possible to trade price expectations for several weeks already - this chart turned out to be perfect for identifying important levels, which were confirmed on IPO day. So, the $157-161 zone is holding perfectly from below, it gave me my first long entry a few days before the IPO and allowed me to double the position size, which I quickly posted in the comments because there was obviously no time for a separate post. Those were fast wicks to the downside without even closing inside the first box on the chart. Friday's low was $152.5, which may become another important level, but it doesn't necessarily have to be revisited this week. I still don't see much strength or potential on the sellers' side, rather it will be the buyers who have the advantage, especially with oil prices falling in the background. The second level I identified earlier was $175, which is now acting as the main resistance that needs to be overcome if the price is to move higher. I managed to take partial profits from the added tranches there and reduced the long position back to its original size. I still think a long position makes sense and I intend to use this range in future moves, just as the textbook teaches - increase the position near the lower boundary and reduce it near the upper boundary. And if it breaks out above, the natural target becomes the $190 level, which I marked several days before the IPO as a pivot, you could also call it an S/R level. $190 could become TP1. Earlier on the chart I had planned TP1 at $212, perhaps that was too optimistic, time will tell. In any case, if I see signs of a local top near $190, there will be some manual position cutting at a very substantial profit. The stop-loss plan from previous posts remains unchanged. 💙👽