Overnight after breaching support seen in last post (failing to bounce off the 10,750 support correctly). We have seen a major plunge downwards following my third pathway. I myself have been laddering into some alts at very low prices just to be safe as we go down, but here are my next two alternate routes towards 8k:
1. We see a small bounce off of 9.5 bringing us to the top of our downwards wedge (around 10,500) , which then bounces down to our 9-8 k zone. (ABC out of the Bear Flag)
2. We continue the downtrend, and head downwards into 9-8k landing zone. (Straight down from the Bear Flag, 5 semi clean waves down within our downward wedge thing)
Keep a close eye on the landing zones around 9500, 9000. 8325 and even possible 7763. Could be entirely wrong but these numbers seem most likely to be hit based on the charts.
Best of luck! Lets see how this goes...
1. We see a small bounce off of 9.5 bringing us to the top of our downwards wedge (around 10,500) , which then bounces down to our 9-8 k zone. (ABC out of the Bear Flag)
2. We continue the downtrend, and head downwards into 9-8k landing zone. (Straight down from the Bear Flag, 5 semi clean waves down within our downward wedge thing)
Keep a close eye on the landing zones around 9500, 9000. 8325 and even possible 7763. Could be entirely wrong but these numbers seem most likely to be hit based on the charts.
Best of luck! Lets see how this goes...