NASDAQ:TQQQ Chart should show well enough what I'm conveying here. Either it rebounds from here, along with crypto and all the other indeces across markets, or we see lower lows, that reaches back into the March 2020 fear levels.
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indices* I was in a rush, oops
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It's definitely now into the horizontal channel (March 2020 levels); we'll see where it goes from there.
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Candles are dipping, but not holding below the blue line. Looks pretty good as a support and potential rebound zone.
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June-July has been holding under the blue line. Probably a heavy resistance at 27~30 atm... A decent support just below at the 21~23 range.
I don't think you're gonna hit March 2020 lows, but I do think we have a bit more to go, like $25 area. At the least, it's not going to go lower much more than another day or two without a March-style bear market run.
jedington
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@slavrenz, Not quite the lows, no, but somewhere between the (full month of March 2020) highs and lows, and where it rebounds from there. But yeah, I can see your estimate being likely.
RobBiddle
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@slavrenz, I think we could actually see lower than the March 2020 low based on a retrace of the larger bull market going back to 2009, but likely not right now, I'm thinking by the end of 2022 or early 2023. Market is pretty oversold at the moment though, could get a small relief rally anytime now.