Nasdaq (NDX) might be sitting right at the edge of a cliff as following February's correction it has still failed to recover the 4H MA100 (green trend-line) and 4H MA200 (orange trend-line).
That is a critical Resistance cluster as during the 2022 Bear Cycle (which also started on a Double Top as we have today), the inability to cross the 4H MA200 was what kickstarted the massive correction.
The first Target of the 2022 Bear Cycle was the 2.5 - 2.618 Fibonacci extension Zone from the Double bottom Support. As a result, if the market doesn't recover the 4H MA200, there is a real possibility of reaching 20600 by May 2026.
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That is a critical Resistance cluster as during the 2022 Bear Cycle (which also started on a Double Top as we have today), the inability to cross the 4H MA200 was what kickstarted the massive correction.
The first Target of the 2022 Bear Cycle was the 2.5 - 2.618 Fibonacci extension Zone from the Double bottom Support. As a result, if the market doesn't recover the 4H MA200, there is a real possibility of reaching 20600 by May 2026.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
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I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน
I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน