Purely undeveloped yet, but based on the descending triangle (purple) and the mini descending triangle (red), we may be forming a bearish cypher (green harmonic). This could bring us to around 52k in the interim before a continuation of the downtrend to around 39k, and ultimately a rebound to 55k before the end of the structure. Another thing to note is the bullish divergence on the macd histogram which would justify a pump. Again, purely undeveloped. Thoughts?
Comment:
The purple and the red are descending wedges, not triangles. Sorry for the error of terms.