We talked about a strong positive correlation between Tesla and Bitcoin in the past and now that Tesla is extending strongly higher, Bitcoin is following, of course. Both of them slowed down recently, but notice that Tesla made only a three-wave ABC corrective decline in wave (4) that can now resume its bullish trend for wave (5), so Bitcoin could follow sooner or later.
Basic Impulsive Bullish Pattern should be made by five waves. It shows that Tesla and Bitcoin could be trading in wave (4) correction before a continuation higher for wave (5).
Basic Impulsive Bullish Pattern should be made by five waves. It shows that Tesla and Bitcoin could be trading in wave (4) correction before a continuation higher for wave (5).
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Tesla and Bitcoin are now trying to resume the bullish trend after both of them finished a correction.
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