Predicting Tesla's Future Price - Comparing Historical Patterns

Today we compare Tesla's current candle patterns to a prehistoric falling wedge candle pattern found on Bitcoin on July 15th, 2021. I'm a big fan of history repeating itself so I decided to take a deep dive on the similarities between both charts. They indeed look quite similar. I traced both candle patterns in white, and you can see that Bitcoin printed a falling wedge pattern. Tesla still seems to be printing it's wedge pattern which is slightly different. Inside Tesla's candle pattern formation, it has formed a diamond bottom pattern, a inverse head and shoulders, and a triangle wedge. The diamond bottom is a bullish trading pattern indicating a possible reversal of the current downtrend. The triangle wedge does not seem to be complete yet. I am hoping for it to be a falling wedge pattern just like Bitcoin's because that is bullish and we can see the price of Tesla go over $900 dollars, and attempt to get to $1000 by September. That is a 50% increase in value! :D If it becomes a rising wedge than that is bearish, and the price of Tesla can continue falling close to $500 dollar zone. I believe that we will see more bullish momentum in the stock market at least until September. Some stock's have been falling since last July, and most stocks started to fall last November in 2021. I find it hard to believe we will continue falling all year but if we do fall again it will be sometime in October or November in 2022. That being said, happy trading!


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