QQQ: Capacity of the Pullback

This chart presents a Fibonacci channel projection based on key swing points, including a Higher High, Higher Low, an All-Time High (ATH), and a current Lower Low.
The levels of Fibonacci channel that market should abide by for the nearest future, are defined by: HL & LL - sets direction (fib 0 line); applied to ATH (fib 1 line). The derived fib ratios help to anticipate future price movements acting as key resistance where the pullback (reaction to prior impulsive bearish wave) might reach in respect to its structural capacity. B&W dashed line indicates a potential inflection point where the price could either reverse or extend further into supply zones.