NAS100 Bullish Breakout Setup

NAS100 Bullish Breakout Setup 🚀

🧠 Chart Analysis (H4 timeframe)

🔹 Ascending Channel:
Price has been trending inside a clear ascending channel (blue zone), supported by higher highs and higher lows.

🔹 Support & Resistance:

Support: Around 21,635.32 – tested multiple times (highlighted by 🔵 arrows).

Resistance: Around 22,265.19 – recent highs and psychological barrier.

🔹 Double Bottom Formation 👣:
Near support zone, a potential double bottom (bullish reversal pattern) is visible. The neckline has been challenged.

🔹 Breakout Confirmation 🟢:
Price has broken above the descending neckline of the double bottom and is hovering near 21,644, indicating potential bullish continuation if sustained.

🔹 Target 🎯:
Projected breakout target lies at 22,265.19, aligning with the previous resistance zone.

🔹 Volume & Momentum 📊:
While not shown, a breakout above the neckline generally needs strong volume confirmation to validate the move.

📌 Conclusion:
If price sustains above the 21,635 – 21,644 area and gains momentum, the path to 22,265 looks likely ✅. However, a false breakout could drag the price back into the channel.