NASDAQ - ABC WAVE? (ROUGH)
So if crypto taught me anything the past few years its the 50% rule - At some point there is a 50% retracement from the ATH, which seems to be a much slower process back on the stock market - Putting the possible, eventual retracement in the 8k region!
WITH THAT SAID, at reduced volatility, a 30%-40% retracement is a margin more reasonable with 10k being a strong psychological barrier in any market.
This is a late night, CASUAL observation that I may continue to update should it begin to BEAR any fruit! (forgive me). Although in all honesty I hope I'm completely off the mark unless you're a great reset kinda person
WITH THAT SAID, at reduced volatility, a 30%-40% retracement is a margin more reasonable with 10k being a strong psychological barrier in any market.
This is a late night, CASUAL observation that I may continue to update should it begin to BEAR any fruit! (forgive me). Although in all honesty I hope I'm completely off the mark unless you're a great reset kinda person
Note
Not exactly as I anticipated, but definitely happy to successfully call a big dip relatively near the top!
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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.