This is a potential scenario unfolding for the NAS100 in the next 6 to 10 months. I think it would be too easy just to short the white resistance line . What is more likely to happen is price breaking that area and triggering a fomo rally to 0.5 or 0.618 before starting its next leg down.
If this does happen then we could see a 44% drop from all time high down to 9300 points which would be pre-covid levels.
The TA below shows what would happen to Bitcoin if this did unfold in the stock market.
If this does happen then we could see a 44% drop from all time high down to 9300 points which would be pre-covid levels.
The TA below shows what would happen to Bitcoin if this did unfold in the stock market.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.