Analysis of the Nasdaq 100 Spot H4 ChartUS NDAQ 100 - CashCMCMARKETS:NDAQ100Przemyslaw_BlachutThe pattern visible on the H4 chart is a potential pro-L bottom, for which the so-called “ear” has begun to form (another name for this formation is the “cup and handle,” and now the “handle” is forming). Bullish Scenario: The range is marked roughly, as formations are never perfect. Once it forms (there may still be a few candles, or perhaps just one), we’ll see a sharp rise to the 1.618% Fibonacci extension level. The bearish scenario is a breakout of the formation and a drop below 40-50% of the cup formation’s height. As usual, the green lines indicate upward movement and the red lines downward movement. Additionally, the current upward movement from the low can be fitted into a two-width upward channel. Przemyslaw Blachut - May profit be with you :)