My primary count on TSLA is still bearish. On my primary view, this move is supposed to be wave Y of Primary wave 4. If that is still in progress, then the current consolidation is only wave b of Y and TSLA should fall back more towards the lows of $100 area. But we cannot ignore the other side altogether. In this alternative view, Primary wave 4 was complete back in Jan 2023 and since then TSLA has been making a gigantic ending diagonal wave5 to complete the cycle wave 3. If that is the case, then we should see some kind of a bottoming pattern to complete wave Y intermediate wave 4 and resume wave 5 upward.
So, how can we prepare for whichever direction things play out? If price to follow the bearish count, price would break below the $214 low and continue on a strong 5 waves C down to complete the correction. If price to take the bullish route, should not create any lower low from $222.79 and ultimately break above $291.85.
So, how can we prepare for whichever direction things play out? If price to follow the bearish count, price would break below the $214 low and continue on a strong 5 waves C down to complete the correction. If price to take the bullish route, should not create any lower low from $222.79 and ultimately break above $291.85.
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