When analyzing this enormous wedge that stretches back to 2014 and applying the rule of thumb that the target is the 'first pivot', a fall to the 0.786 Fib line would be possible.
I'm not saying this has the highest likelyhood and I do not expect this to play out, but I found it interesting to sketch it out.
I'm not saying this has the highest likelyhood and I do not expect this to play out, but I found it interesting to sketch it out.
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I would say that there is basis now for this analysis to be taken seriously. There has not been a single outbreak of range of the bearflags that have been forming. Not a single actual counter rally outside of the flag formations.