Tesla: Market Top or Melt-Up?

Tesla failed at its all-time high today. It formed a base in the processs and would have a target above $1200 per share if it broke through. I believe the bull market is on its last legs, or at least due for a correction like the ones in 1987 and 2020. I don't think a melt-up is coming, but whichever way it goes, Tesla will probably tell us soon. The puts are too expensive for my taste on Tesla, but I bought a bunch of them in my virtual account.