Cryptocurrencies
Tesla Is More Overbought Than Bitcoin During Height of Bubble
- Tesla’s 14-day RSI exceeds that of Bitcoin in December 2017
- RSI is a gauge of the speed and persistence of price movements
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Commenting on the meteoric rise in Tesla Inc., GLJ Research’s Gordon Johnson declared the share surge to be a bubble that’s “effectively Bitcoin on wheels.”
Hyperbole? No. By one technical indicator, the speed of Tesla’s rally exceeds that of the cryptocurrency at its peak.