Short

THE BIG CRISIS BEGINS

Updated

It seems that the S&P 500 has reached its peak. We'll find out later. If we look at the long-term chart, we can draw a huge fibo channel. FINAL TARGET would mean a decrease of approximately 62%. ALT. POTENTIAL BOTTOM would mean a decrease of 68%. On the chart we can see 5 waves and abc expanded FLAT correction, in which wave b returns almost 161.8% of wave a. Everything is switched to logarithmic scale.

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On the daily chart we see a huge rising wedge and now we break it down. But we need to see more.
s3.tradingview.com/snapshots/z/zFzAy87J.png

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On the chart we can see the typical reaction of the S & P500. V-shaped recovery and new All time high. It is currently attacking 161.8% of wave "a". Watch this level weekly and monthly. That's where Bitcoin failed.
s3.tradingview.com/snapshots/6/6c6KhmyH.png

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The S&P 500 reached 161.8% of the "a" wave. We have now seen a stronger response to this level. The chart has undergone minor adjustments.

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On the chart we can see a strong reaction to the level of 161.8% of the wave "a". At BTC, this level worked just as well and we haven't been above it since April. Now the S&P 500 has tested the MA50 Daily.

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We see a critical level test on the dollar index.

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Big rising wedge

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On the chart we see a dashed trend line, below which the candle never closed. Now for the first time closed under. If today's candle closes below both trend lines, the rising wedge breakdown is confirmed.

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On the chart we see a broken rising wedge. RSI tested yearly support. We also see that we are approaching MA77. To confirm the downtrend, it is necessary to break through the bearish level and then create a lower high.

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On the DXY graph we see a breakthrough of level 93,437. We have created a higher high. This is a signal that the crisis is just coming and stock markets and crypto will experience a strong correction.

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On the graph we see the breakthrough of a huge rising wedge. Failed to create a higher high. Now we are waiting for a lower low and confirmation of the downtrend.

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DXY

Fox666

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