Will Nadsaq start a deep correction?

The year 2023 proved to be exceptional for NAS100 , witnessing a 70% increase in the index. However, the onset of 2024 brought about a correction in the index.

Notably, the rise observed in December is confined within a rising wedge, suggesting a potential reversal. The index has indeed breached the rising trend line of the wedge, and the recent rebound serves as confirmation of this break.
Also NAS100 appears to face challenges surpassing the 17k mark.

Confirmation for a new downward move would occur with a break below 16500.
In such a scenario, levels to monitor for bearish targets include 16200, 15700, and a significant 14500.