{"id":5577,"date":"2021-03-25T07:48:00","date_gmt":"2021-03-25T07:48:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=5577"},"modified":"2021-03-25T21:14:18","modified_gmt":"2021-03-25T21:14:18","slug":"tesla-technical-analysis-trendline-failure","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/tesla-technical-analysis-trendline-failure\/","title":{"rendered":"Tesla Technical Analysis &#8211; Trendline failure"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"5577\" class=\"elementor elementor-5577\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a0fd9f6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a0fd9f6\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-90c20e8\" data-id=\"90c20e8\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-387af41 elementor-widget elementor-widget-text-editor\" data-id=\"387af41\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/2OccOTY\" target=\"_blank\" rel=\"noopener\">Tesla<\/a>\u2019s stock price has started to come under pressure again, after bulls failed to stage a breakout about key technical resistance and a strong sell-off in the cryptocurrency market, just hours after a major announcement from Tesla.<\/p><p>Yesterday, Elon Musk announced to market participants that Tesla products are now available for purchase through the world\u2019s number one cryptocurrency, Bitcoin. Tesla had already alluded to this in February.<\/p><p>The largest electric-car maker in the United States first announced a $1.5 billion investment into Bitcoin last month, following numerous cryptic Tweets from Musk, who has been propend of cryptos such as Bitcoin and Dogecoin for some time.<\/p><p>Musk said \u201cTesla is using only internal and open-source software and operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency\u201d. This essential that Tesla is not planning to convert Bitcoin in the <a href=\"https:\/\/bit.ly\/3eIXPz1\" target=\"_blank\" rel=\"noopener\">US dollar<\/a>.<\/p><p>Many analysts speculated that this was a sign of the times, as largest and trendy new companies are now favouring Bitcoin instead of fiat currency. It should be noted that Bitcoin still has a limited number of outlets where it can be spent.<\/p><p>Yesterday, FED Chair Jerome Powell took a decidedly dovish tilt towards Bitcoin. The FED Chair said, \u201cCrypto assets are highly volatile, see Bitcoin, and therefore not very useful as a store of value, and they\u2019re not backed by anything\u201d.<\/p><p>Bitcoin sold-off on the bearish comments from Chair Powell, as did Tesla. It should be noted that the price of Tesla is starting to show an increasing negative price correlation with Tesla. Therefore, bearish correction in Bitcoin is likely to harm the overall stock price of Tesla.<\/p><p>Traders and investors are therefore closely charting Bitcoin for clues as to where the price of Tesla may go. If we look at the chart of Tesla now, the short-term prospects of the electric-car maker do not look good right now.<\/p><p><strong>Tesla Short-term Technical Analysis<\/strong><\/p><p>The four-hour time frame shows that Tesla\u2019s stock price has risen back to a key former breakout area from a large broadening wedge pattern and severed a big technical rejection.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6bfc862 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6bfc862\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-bb36ce1\" data-id=\"bb36ce1\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f083244 elementor-widget elementor-widget-image\" data-id=\"f083244\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2OccOTY\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"347\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/03\/TSLA.US-4H-1.png\" class=\"attachment-large size-large wp-image-5634\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6b3c2d9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6b3c2d9\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4cdaf22\" data-id=\"4cdaf22\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a00dfb0 elementor-widget elementor-widget-text-editor\" data-id=\"a00dfb0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/2OccOTY\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-982f169 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"982f169\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c70e816\" data-id=\"c70e816\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7187265 elementor-widget elementor-widget-text-editor\" data-id=\"7187265\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>Repeated failure around this this key broadening wedge pattern now sets up a test of $500.00 and possibly lower. The overall size of the wedge pattern is predicting that Tesla\u2019s share price could fall as low as $420.00.<\/p><p><strong>Tesla Medium-term Technical Analysis<\/strong><\/p><p>According to the daily time frame Tesla\u2019s share price could be preparing to stage a massive price, as bears are now testing around the neckline of a large head and shoulders pattern.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8cf1198 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8cf1198\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-616a1da\" data-id=\"616a1da\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-bd156aa elementor-widget elementor-widget-image\" data-id=\"bd156aa\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2OccOTY\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"343\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/03\/TSLA.US-1D-1.png\" class=\"attachment-large size-large wp-image-5636\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e37d585 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e37d585\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8ad1da4\" data-id=\"8ad1da4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4e5f444 elementor-widget elementor-widget-text-editor\" data-id=\"4e5f444\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/2OccOTY\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-24abc22 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"24abc22\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a934b46\" data-id=\"a934b46\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-683171c elementor-widget elementor-widget-text-editor\" data-id=\"683171c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>Technical analysis shows that the bearish head and shoulders pattern is warning of a potential $300.00 decline. Watch out for the bear party to get started if losses start to accelerate below the $600.00 level.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Tesla\u2019s stock price has started to come under pressure again, after bulls failed to stage a breakout about key technical resistance and a strong sell-off in the cryptocurrency market, just hours after a major announcement from Tesla. Yesterday, Elon Musk announced to market participants that Tesla products are now available for purchase through the world\u2019s [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":5588,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[9,13],"tags":[176,262,42,43,61,67],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tesla Technical Analysis - Trendline failure - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/tesla-technical-analysis-trendline-failure\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tesla Technical Analysis - Trendline failure\" \/>\n<meta property=\"og:description\" content=\"Tesla\u2019s stock price has started to come under pressure again, after bulls failed to stage a breakout about key technical resistance and a strong sell-off in the cryptocurrency market, just hours after a major announcement from Tesla. 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