Nasdaq a complété ses 5-VaguesAreas labeled as "Liquidity" and "Lots of Liquidity" represent price zones where stop-loss orders or pending orders may cluster. These zones are likely points of interest for reversals or breakouts.
Support and Resistance:
A horizontal yellow line marks a potential key support level around 21,000.
The upper horizontal lines indicate resistance levels near 21,447 and 21,676, respectively.
A bearish move is predicted to complete Wave 6, targeting the support zone near 21,000 (specifically around 0.72 Fibonacci retracement level).
Following this, an upward movement is projected towards the liquidity zone near 21,802.
Potential Upside:
The target at 21,802 represents a significant upward liquidity grab after the predicted downward move.