NVIDIAShort
NVDA Correction: Strongest Since 2021 (77.7 & 42)
Updated
The NVDA stock has been a major bull since October 2022...
Good day my beloved traders, how are you feeling today?
The NVIDIA Corporation stock is now synonymous with a gauge for the Cryptocurrency market.
➖ When the stock is doing great, we know the Crypto-market to be doing great.
➖ When the stock falters, we know the Crypto-market is ready to falter as well.
Here we can see first, a major rise within a strong ascending channel (BU-AC) followed by a confirmed top-pattern (Tpat). What follows is of major importance.
The breakdown of this very long and strong ascending channel signals the end of the rising wave. The end of the rising wave signals the start of a declining phase.
The fact that the rise was so strong indicates that the correction can be really strong as well. The market tends to balance things out from left to right, from down to up, from up to down.
We are seeing the third consecutive week where this market trades in the red and this is something that we have not being seeing. Only between March and April 2024 we experienced some bearish action and then full bullish momentum the rest of the time.
So this is a very strong revealing signal.
The end of the rising wave is marked by a rounded top (R-top) pattern with now increasing bearish volume. Notice that the bearish volume is still low compared to previous weeks and this only means that the action on this side of the market is only getting started, now.
➖ This is not Bitcoin.
➖ This is not Ethereum.
➖ This is not Cryptocurrency.
We are using the positive correlation these markets have to predict what will happen next but we cannot predict the duration of the correction base on this correlation. Let me explain.
The bearish wave for Bitcoin and the Altcoins market can last between 6-9 weeks, it is truly reaching its end. The charts are quite different. But for NVDA we don't know what to expect. The correction can start and go for 3 weeks, just as it can last 3 months, 6 months or 9 months... It is interesting.
Knowing this, it is time to prepare.
Regardless of how long the correction goes for; If you are in and a bull, it is time to run.
The crash can easily hit 80 first (77.7) followed by even lower valuations.
We can see 65 within weeks and even below 44 if the scenario becomes extreme.
Namaste.
Good day my beloved traders, how are you feeling today?
The NVIDIA Corporation stock is now synonymous with a gauge for the Cryptocurrency market.
➖ When the stock is doing great, we know the Crypto-market to be doing great.
➖ When the stock falters, we know the Crypto-market is ready to falter as well.
Here we can see first, a major rise within a strong ascending channel (BU-AC) followed by a confirmed top-pattern (Tpat). What follows is of major importance.
The breakdown of this very long and strong ascending channel signals the end of the rising wave. The end of the rising wave signals the start of a declining phase.
The fact that the rise was so strong indicates that the correction can be really strong as well. The market tends to balance things out from left to right, from down to up, from up to down.
We are seeing the third consecutive week where this market trades in the red and this is something that we have not being seeing. Only between March and April 2024 we experienced some bearish action and then full bullish momentum the rest of the time.
So this is a very strong revealing signal.
The end of the rising wave is marked by a rounded top (R-top) pattern with now increasing bearish volume. Notice that the bearish volume is still low compared to previous weeks and this only means that the action on this side of the market is only getting started, now.
➖ This is not Bitcoin.
➖ This is not Ethereum.
➖ This is not Cryptocurrency.
We are using the positive correlation these markets have to predict what will happen next but we cannot predict the duration of the correction base on this correlation. Let me explain.
The bearish wave for Bitcoin and the Altcoins market can last between 6-9 weeks, it is truly reaching its end. The charts are quite different. But for NVDA we don't know what to expect. The correction can start and go for 3 weeks, just as it can last 3 months, 6 months or 9 months... It is interesting.
Knowing this, it is time to prepare.
Regardless of how long the correction goes for; If you are in and a bull, it is time to run.
The crash can easily hit 80 first (77.7) followed by even lower valuations.
We can see 65 within weeks and even below 44 if the scenario becomes extreme.
Namaste.
Note
NVDA is trading below 100 pre-market... This is a major development.The bearish wave is now fully confirmed. Good luck with your position and profits.
Thank you for your support.
Note
NVDA long-term (weekly) MACD looks terrible. It is literally the worst it has ever been. This coming off a new All-Time High is a major cause for concern, or simply can be taken as a warning for traders, buyers and investors.
The VRVP indicator points toward much lower prices in the coming weeks.
Remember how Bitcoin's MACD went full bearish and later Bitcoin's price followed? We have the same situation here.
The "lagging" indicator is actually leading the price.
Namaste.
Note
NVDA hit 90 on the first drop and a bounce quickly followed; This is a normal market reaction and does not invalidate the bearish bias.
We are now witnessing the continuation of the bearish move.
The fact that the continuation is happening this fast, means that the bears are really strong.
Our 70 target remains valid and now considered a high probability target.
Adapt accordingly.
Use this information to your benefit.
Make the best of it.
See you soon.
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🔝 Daily Cryptocurrency Technical Analysis
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🚨 Free PREMIUM Trade-Numbers
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lamatrades.com (Since 2017)
🏆 Results: t.me/alansantana1111/5935
🔝 Daily Cryptocurrency Technical Analysis
followalan.com
🚨 Free PREMIUM Trade-Numbers
alansantanatrades.com
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