If it breaks the uptrend channel, we could be getting another 5 waves down. Next major support in the 8k-9k area. Question is if its the 3rd wave (like I have it here) or the 5th wave that will be the hitting this support. If it's the 3rd wave, then we can potentially see trading channel bottom again or bottom support at around 5k...
Note
It's on... Here is a slightly less dramatic possibilityNote
Seems like the original chart is on track. Will find some buyers in the 10k-11k area. However, the downtrend continues. I'm waiting for the 9kTrade closed manually
The descent extended itself. Still on a bear market...
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.