TESLA → an upward chance
hello guys.
let's analysis Tesla
1. Key Levels:
2. Bullish Breakout:
3. Upside Potential:
4. Bearish Scenario:
If the price fails to hold above the QML zone and the trendline, it could indicate a false breakout. This might lead to a retest of lower levels, possibly back to the QML zone or even lower.
Summary
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let's analysis Tesla
1. Key Levels:
- Descending Trendline: The blue trendline represents a long-term resistance level formed by lower highs. The price has recently broken above this trendline, suggesting a potential shift in market sentiment.
- QML (Quasimodo Level): The yellow box represents a demand zone where the price found support and launched the current bullish move.
2. Bullish Breakout:
- The price broke above the descending trendline, signaling a possible trend reversal. The breakout is marked by a yellow circle on the chart.
- After the breakout, the price pulled back slightly but remained above the QML zone, indicating strong support.
3. Upside Potential:
- First Target: The first resistance level to watch is around $325.73. This is a previous swing high and could act as a significant resistance level.
- Second Target: If the price breaks above $325.73, the next target would be around $402.32, which is another key resistance level from the past.
4. Bearish Scenario:
If the price fails to hold above the QML zone and the trendline, it could indicate a false breakout. This might lead to a retest of lower levels, possibly back to the QML zone or even lower.
Summary
- Descending Trendline: A long-term resistance level has been broken, indicating a potential bullish reversal.
- QML Zone: A strong demand area supporting the current uptrend.
- Bullish Scenario: Targets are $325.73 and $402.32 if the uptrend continues.
- Bearish Scenario: Failure to maintain above the trendline and QML zone could lead to a retest of lower levels.
___________________________
✓✓✓ Always do your research.
❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them.
❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
Note
towards the target
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bit.ly/HYCM-M
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👉my recommended exchange:
bit.ly/LbankMelika
__________
My telegram channel:
t.me/melikatrader94
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