NVIDIA Bearish Potential Intact (Let Me Explain!)NVIDIA (NVDA) just produced a double-top and I shall explain why this situation right now is extremely bearish.
➢ First, the session that produced the new ATH closed red and two sessions earlier there was a bearish signal.
➢ Second, trading volume continues to decrease as a new high is hit.
➢ Third, NVDA is trading at resistance, the strongest resistance possible and the strongest resistance ever, the All-Time High.
Caution: The people who draw these charts, the section of the market that have enough purchasing power to move it are all professional traders. What we know and what we can see and spot in a chart they know a million times better and they have access to data that we do not have. This type of chart setup can be exploited by professional traders. While they know a crash is imminent because of price dynamics, fundamentals and market conditions, they can still work to push prices higher in order to produce one final fake-out before the major drop. Think of Binance Coin around June 2024, something like this.
Regardless of these market moves, the short-term or other unexpected scenarios, the market is set to crash in the coming weeks or months.
This is warning for the clueless ones. We sell at resistance (high prices) and buy at support (low prices).
Thank you for reading.
Namaste.
