NVIDIA

Nvidia - uptrend broken ?

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Just a simple chart with a few channels.

In January 2024 Nvidia transitioned from one rising channel into a even steeper rising channel with increased volatility.

Looks like price has been working on a new falling channel since November.

These large swings we experienced in January marked the upper line of this channel and now price has left the rising channel entirely.

There were a couple of retests of the green channel in the last few days but they have all failed.
So I am currently not considering long positions until the price gets back into the green channel or creates a new rising trend. 快照
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lower trendline of the channel reached (confirmed) and now bouncing
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back at the green line after +10% in a few days:
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can't make this stuff up. Redrawn the channel with precision in 1h timeframe. The algorithms moved price exactly at the intersection of the green channel and midline of the red channel. This could go either way now, but looking at overall market structure (SPX, NDX, BTC, DAX) I'd say red is more likely:
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back in the green channel, that's good. Went up alongside SMCI. Real bullish confirmation comes outside (green path above) of the red channel. Otherwise it's just a bear market rally.
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still within the red channel. Maybe earnings will push it up next week or this is a planned structure and it tanks again to the lower line of the channel
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not looking good for next week
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expected this move after earnings, but here we are:
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as mentioned 10 days ago, seems like this was the plan all along.

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buy the at the lower line, short the upper, repeat. For how long will it trade like this ?
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each time price hit this line, it went down to red before crossing it at the second attempt:
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as suspected last week, price went down again. Target is around 96$ for the next bounce.
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target could be hit by tomorrow

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pushing the limit of the channel:
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short break of structure on April 7th and up 30% since then
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might be a new trend or at least a correction upwards:
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