www.varchev.com

Tesla reminds of Bitcoin after the stock price failed to cross $1000

Gordon Johnson of GLJ Research compared the parabolic appreciation of Tesla’s stock with a bubble. The bubble, which really is “Bitcoin on Wheels”.

Hyperbola? No. According to the technical indicators, the speed and size of the Tesla rally exceeded that of Bitcoin during its peak.

The 14-day RSI is in the zone at 92.5. In December 2017, when Bitcoin soared to $ 19,511, the same RSI indicator could not cross even 91. But in the past, Bitcoin was far more redeemable than Tesla now.

Tesla reached its peak on Tuesday, hitting a high of 968. Thus, the price failed to reach and exceed $ 1000. The event is also reminiscent of the 2017 Bitcoin situation.

Source: Bloomberg Finance L.P.
Graphs: Used with permission of Bloomberg Finance L.P



Read more:
RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance