Wednesday, June 17 SPCX Midday Outlook

SPCX briefly surged violently during trading yesterday, reaching $228, then pulled back to hover around $234.80.
Short-term technical signals indicate that overbought corrections at high levels are underway, with both bulls and bears engaging in a tug-of-war at key levels.
In the short term, the 1-hour RSI previously hit an extreme overbought level of 93.78, then retreated to around 40, now recovered to a neutral position of 51.6.
Momentum for chasing the rally has clearly weakened, and profit-taking is exiting the market.

Regarding key levels, $201–202 is currently the strongest medium-term dividing line, corresponding to the Fibonacci 0.236 retracement from the IPO’s first-day low to high.
Holding this line indicates the upward structure remains intact and is a healthy correction.
Resistance above is at $214, which is the upper band of the 4-hour Bollinger Bands.
Overall, SPCX is in a short-term correction phase after a rally, with $201–202 being crucial for judging the strength of bulls and bears:
Holding this level suggests a healthy correction with potential for a second surge;
losing it warrants caution for further support at $193 or even $179.
In terms of direction, using the $201 level as a reference for short-term trading is more reliable.
Trading range: look for buying opportunities at $200–195, target $215, and if broken, $BTC aim for $230.