NASDAQ 100 H1 Chart Breakdown
Updated
Wyckoff Distribution Phase:
The chart shows clear signs of a Wyckoff Distribution, which suggests the market is in the process of transferring from bullish to bearish sentiment.
The market is likely in Phase C, where the price tests supply at a premium level before a possible markdown phase.
In Phase C, we typically see a test of the resistance zone (created by supply) followed by a final push down.
Harmonic Patterns:
A Bearish Bat Harmonic Pattern has completed near 20,432, signaling a high probability of a reversal or a temporary top.
The harmonic pattern provides confluence with the Wyckoff Distribution, as both imply that the market may be exhausted at current highs.
Break of Structure (BOS) & Change of Character (CHoCH):
There’s a noted Break of Structure (BOS) at 20,162, where the market shifted from bullish to bearish.
Following the BOS, we have a Change of Character (CHoCH), indicating a potential reversal from bullish to bearish sentiment.
Key Levels:
20,432 is a significant resistance level where both the harmonic pattern and distribution align. A failure to break above this level confirms the bearish scenario.
Targets on the downside include 20,297 (discount zone) and 20,162 (liquidity zone).
Short-term Outlook:
NASDAQ 100 is expected to continue lower if it fails to break above 20,432. Downside targets include the 20,297–20,162 range.
The chart shows clear signs of a Wyckoff Distribution, which suggests the market is in the process of transferring from bullish to bearish sentiment.
The market is likely in Phase C, where the price tests supply at a premium level before a possible markdown phase.
In Phase C, we typically see a test of the resistance zone (created by supply) followed by a final push down.
Harmonic Patterns:
A Bearish Bat Harmonic Pattern has completed near 20,432, signaling a high probability of a reversal or a temporary top.
The harmonic pattern provides confluence with the Wyckoff Distribution, as both imply that the market may be exhausted at current highs.
Break of Structure (BOS) & Change of Character (CHoCH):
There’s a noted Break of Structure (BOS) at 20,162, where the market shifted from bullish to bearish.
Following the BOS, we have a Change of Character (CHoCH), indicating a potential reversal from bullish to bearish sentiment.
Key Levels:
20,432 is a significant resistance level where both the harmonic pattern and distribution align. A failure to break above this level confirms the bearish scenario.
Targets on the downside include 20,297 (discount zone) and 20,162 (liquidity zone).
Short-term Outlook:
NASDAQ 100 is expected to continue lower if it fails to break above 20,432. Downside targets include the 20,297–20,162 range.
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