📈 Nasdaq just charged through the 200-day moving average like it wasn’t even there. But if you zoom out, this level has acted as a brick wall before — and we may be walking straight into a trap.
🔍 Key Observations:
The last failed breakout above this zone led to a major rejection.
We're back at horizontal resistance from prior tops.
Price action resembles a Rope-a-dope move — run up, suck in longs, then rug pull.
⚠️ No real breakout without confirmation + volume. Don’t let the short-term green candles distract you from the macro ceiling above.
🔍 Key Observations:
The last failed breakout above this zone led to a major rejection.
We're back at horizontal resistance from prior tops.
Price action resembles a Rope-a-dope move — run up, suck in longs, then rug pull.
⚠️ No real breakout without confirmation + volume. Don’t let the short-term green candles distract you from the macro ceiling above.
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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.
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.