BTC - TSLA now more overbought than Bitcoin at its peak by jrcornel

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bitcoin · @jrcornel ·
$17.67
BTC - TSLA now more overbought than Bitcoin at its peak
# If you thought Bitcoin was in a euphoric bubble back in 2017, you haven't met TSLA...

If you hadn't heard by now, TSLA had another monster day.

After already running up more than 200% in the last several weeks, it exploded yet again today:

https://i.postimg.cc/pTrBwDtQ/Tesla-Stock-min-1024x484.jpg

(Source: https://cryptopotato.com/250-in-3-months-tesla-tsla-is-now-more-overbought-than-bitcoin-back-in-2017s-crypto-bubble/)

The price briefly got as high as $960 before giving up some of the gains as it limped into the close.

Even with that dip though, TSLA was still up 14% on the day.

To put that into perspective, the S&P had one of its better years last year and returned barely double what TSLA did in one day today...

Let that sink in a bit.

# More bubbly than bitcoin?

What's even more crazy about all of this is that looking at some technical indicators, TSLA is now more overbought than bitcoin was at its peak just under $20k back in late 2017.

Yes, you read that right.

TSLA right now is more bubbly than bitcoin was at $20k, at least according to the RSI.

Check it out:

https://i.postimg.cc/jdbM5n6T/620x-1.jpg

(Source: https://www.bloomberg.com/news/articles/2020-02-04/tesla-is-more-overbought-than-bitcoin-during-height-of-bubble)

The relative strength index (RSI) on TSLA is over 90 right now, which is a couple points higher than bitcoin was at its peak.

Traditionally an investment is said to be overbought when it is above 70 on the RSI.

So, a reading of 92 is pretty bubbly.

The next time someone mentions bitcoin and bubble, remind them of our good friend TSLA!

Stay informed my friends.

-Doc
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@stefano.massari · 
a truly unexpected performance
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@jrcornel · 
By TSLA or bitcoin?
👍  ,
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@stefano.massari · 
TESLA
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@doitvoluntarily · (edited)
read something a few days ago, forget where now, saying it could still go up a tremendous amount & that currently is undervalued 😲 now all this? 😂maybe people are just realizing what a bet the SUV is
https://images-cdn.9gag.com/images/thumbnail-facebook/50215265_1574654896.4978_eXE6ep_n.jpg
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@jrcornel · 
It could go much higher, but it will need to pull back first. Nothing goes up in a straight line for very long.
👍  ,
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@firemlez · 
I guess it's  too late to buy.
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@jrcornel · 
TSLA you mean?
👍  
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@omrfrq18 · 
Thanks for this post.
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