The chart persistently indicates a bearish trend, with price action confined within a descending channel, signifying a continuous downtrend. Key Levels: - Resistance at $200: Failure to reclaim and sustain above $200 underscores bearish sentiment. - 0.618 Fibonacci Support at $165: This level represents the next critical support within the ongoing downtrend. A break below this level could result in further downward movement. - Target 1 ($165): Immediate support level, conforming to the 0.618 Fibonacci retracement. - Target 2 ($100): A more profound support level and potential downside target if the bearish momentum persists. Price remains below the moving averages, which further validates the bearish outlook. NASDAQ:TSLA is likely to test the $165 level, with a potential decline towards $100 if the bearish trend continues. A bullish reversal would necessitate a break above the descending channel and key resistance levels.