NVIDIA On the brink of a strong correction towards $110.NVIDIA CorporationBATS:NVDATradingShotNVIDIA Corporation (NVDA) hit last month its 1W MA50 (blue trend-line) but despite marginally breaking below it, the price managed to close the 1M candle above it, thus so far supporting the market. This is a critical Support trend-line as every time NVIDIA broke and closed below it within its 11-year Channel Up, the price dropped further, touching the Higher Lows trend-line shown on the chart. That has been particularly evident during Bear Cycles (technically the Bearish Legs of the Channel Up), which also hit and bottomed on the 1W MA200 (orange trend-line). The 2022 Bear Cycle even bottomed marginally below the 0.382 Fibonacci retracement level (blue) from the previous bottom, while the 2018 Bear Cycle just above it. Notice that all Bear Cycles started after an aggressive 1M RSI Bearish Divergence was completed, which is what we have right now. So a break below the 1W MA50 would practically confirm a new Bear Cycle and the minimum target would be the 1W MA200 and the Higher Lows trend-line around $110. This time the 0.382 Fib is considerably below it. An additional powerful Buy Signal for the long-term, is the 1M RSI 42.00 Support. Both previous Bear Cycles bottomed exactly on it (September 2022 and December 2018 respectively). --- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** --- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇