$TSLA - Looks like the price has rejected at the resistance range between the 1.272 and 1.414 Fibonacci extension levels, which I covered in some of my prior updates.

That said, I believe that the base case remains intact, a test of the 1D Bull Market Support Band, currently sitting at $461, in case of a rejection at this resistance range, before a more durable reversal to the upside.

If, however, the price were to break below the support band, I would look to hedge part of my spot holdings in order to mitigate the short-term downside risk, since that would open the door for a deeper pullback on the low-timeframes toward the prior high-timeframe resistance range at $430.