Incoming 50% correction for NVIDIA to $50
Patiently we waited and finally it has happened.It was the month of January 2025 when this immense bubble would break support. 2 years after it first confirmed in September 2022.
A number of reasons now exist for a bearish outlook. Look left. On the above 5 week chart:
1) Price action and RSI support breakouts.
2) RSI support confirms resistance on past support.
3) Looking left previous corrections were at least 50% from the support exit, that’s $50 today should that repeat.
4) Looking left the chart suggests this correction is over after 210 days. In other words August 10th presents a unique long term investment opportunity.
Is it possible price action continues upward trend? Sure.
Is it probable? No.
Ww
A number of reasons now exist for a bearish outlook. Look left. On the above 5 week chart:
1) Price action and RSI support breakouts.
2) RSI support confirms resistance on past support.
3) Looking left previous corrections were at least 50% from the support exit, that’s $50 today should that repeat.
4) Looking left the chart suggests this correction is over after 210 days. In other words August 10th presents a unique long term investment opportunity.
Is it possible price action continues upward trend? Sure.
Is it probable? No.
Ww
Trade active
Broken market structure, expect a volatile correction over the coming months.Note
A few messages and comments alluding "the bottom is in"
To all those folks, ask yourself this question, why is this time different?
Let me answer it for you, it isn't.
Look left, there is a high probability indication on the monthly chart below price action in for a tough time.
1 month chart
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
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.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
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.