WEEKLY TIMEFRAME!!!
Look at the drop from the March crash 2020. 3000 points it dropped. That was the last time Nas had 3 bearish weeks in a row...until now.
It's already dropped 1700 from it's 14k (almost) peak.
Don't forget, the stimulus is probably priced in, yields and inflation are on the up. Vaccine in US is going well and many governors are telling workers to get back to the office. That means that the stocks that make up the Nasdaq, IE google, amazon, Microsoft, zoom etc have all probably peaked (Bezos didn't step down for no reason!).
Lower timeframes offer key support and resistances which need to be breached for the big crash. Don't usually use EMA's either but the 4hr as illustrated on the chart is very interesting here.
Look at the drop from the March crash 2020. 3000 points it dropped. That was the last time Nas had 3 bearish weeks in a row...until now.
It's already dropped 1700 from it's 14k (almost) peak.
Don't forget, the stimulus is probably priced in, yields and inflation are on the up. Vaccine in US is going well and many governors are telling workers to get back to the office. That means that the stocks that make up the Nasdaq, IE google, amazon, Microsoft, zoom etc have all probably peaked (Bezos didn't step down for no reason!).
Lower timeframes offer key support and resistances which need to be breached for the big crash. Don't usually use EMA's either but the 4hr as illustrated on the chart is very interesting here.