NDX: 1M Timeframe Overview

Looks like the previous ATH might become the next major floor if we continue to go lower.

Nice confluence with the 200 period EMA. Additional confluence is provided by the Fibonacci golden region between the 0.618 & 0.650 levels.

$5,000 seems to be the ballpark price target for the bears based on this chart.

Let me know your thoughts below :)