Simplest chart I will ever post, pay attention to the stochastiRSI here. This is coiled for explosive drop - it will be termed a crash but its really just a test of breakout level from Oct-Dec2022 that never got tested as support.
The weekly RSI overold and outside bollinger signaling overextended.
These are just supplements to indicate its about time for the drop. I have too many lines on my chart currently to post with the drawings enabled lol.
A lot mrore went into the 279 prediction but here is summary:
- Breakdown level is 324-326 (will test next week) - break below will drop it to test 302-310 (likely will get attempted bounce there and rejection around 315 before main portion of drop) - Target = 279 (earliest this will be realized is 6/16 - 6/23)
If the crash is not as drastic as I'm expecting it will still reverse here but take longer to hit targets.
Roof here is 349 (.618 off Jan 22 high)
This is a wave c of B of IV, the drop will begin wave C of IV - these have the characterictic of being very explosive and are often termed "crashes" when they occur.
I agree, we're in the blow-off phase of this bear market rally. And we're right near a level where a trend change is likely. Check out the fibs on each of the bear market rallies:
BobbySpa
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yes the fib level at this degree of stretch would seem to be a barrier and that some form of correction would be reasonable. SMH 20% in two weeks.....bubble!
Check out the fibs on each of the bear market rallies: