Analysis done on the daily/4H timeframe. Nas has been overall very bullish , with very few corrections. How much longer can this go on for?
As you can see, i've drawn out a few supply and demand (S&D) zones from the 4H TF. The last two 4H candles have been in favour of the bulls, with massive wicks to the downside. I've actually entered a buy here myself. This is because i see price revisiting the second-to-top zone, and then coming back down. Hopefully, if bears gather enough strength, we will have a move to the downside (represented by the arrow path). There's a chance price may revisit the ATH but i believe a correction is long overdue.
I've drawn the bottom trendline out from the daily TF and if we're able to break and stay below it comfortably, the move to the downside will continue.
As you can see, i've drawn out a few supply and demand (S&D) zones from the 4H TF. The last two 4H candles have been in favour of the bulls, with massive wicks to the downside. I've actually entered a buy here myself. This is because i see price revisiting the second-to-top zone, and then coming back down. Hopefully, if bears gather enough strength, we will have a move to the downside (represented by the arrow path). There's a chance price may revisit the ATH but i believe a correction is long overdue.
I've drawn the bottom trendline out from the daily TF and if we're able to break and stay below it comfortably, the move to the downside will continue.
