I predict that there may be a zig zag or a, b, c correction after the end of the bear triangle.
I think that the possibility of a downward z wave after the end of a bearish triangle is strong. The end of this bearish channel that I have drawn may not be a bullish harbinger for us. I think it will give us better clues about the criterion of the behavior here.
In line with the w,x,y binary combo, I think there will be an uptrend after a final wave of y.
if wave y is over, fix 1 may be doing 2 now, or it will be wave x assuming btc will drop further.
Assuming that the decline in cryptos will deepen with the interest increase to be taken at the fed meeting this week, I think that if it sags under the yellow trend in qnt, a classic obo formation will occur. I think that the current chart reflects this.
SPX is at the end of a cycle and assuming that the crisis will continue, it is in a C wave in my opinion. My estimated target price for wave C is as I have shown.
AB=CD C=0.618 D=1.618=? Leg AB corresponds to fibo C 0.618, from B to C Fibo D leg corresponds to 1.618. It is not an investment recommendation.
If it goes below 25.86, my minor 2nd wave expectation is 0.50 or 0.618. I think that the decline in the lower levels will continue assuming that the crisis will continue in 2023.
I have indicated my expectation for wave 2 with red cuts, bearish triangle indicates wave 4, it is not necessary to make a symmetrical triangle, I showed it as a possibility. I created correction 2 assuming that there will be no recovery in the world economy next year. not a recommendation.