I posted this analysis a while ago and someone told me I was smoking crack. But when looking at the entire way down from last ATH we can see there has not been one actual counter rally, as in a rally above recovery range after a harsh drop.
All we are seeing is one bearflag after another and this leads me to believe this is actually playing out.
In addition to the massive rising wedge there is the Fib Time Zone tool prediciting another year of downward pressure. This is also confirmed by the Ichimoku lagging span on the monthly, which is suprisingly accurate at marking the start of previous bullcycles after major corrections. I have drawn out the distance from the moment that the lagging span (the yellow line that 'lags' behind the chart, mimicking the form of the trend) touches the actual trend with the horizontal yellow lines. It accurately marked the start of the next bull cycle twice in the past and when overlaying it for future projection it aligns with both the Fib Time Zone 1.618 (full cycle complete) and the Ichimoku cloud rising steeply, indicating sharp upward momentum if respected.
All we are seeing is one bearflag after another and this leads me to believe this is actually playing out.
In addition to the massive rising wedge there is the Fib Time Zone tool prediciting another year of downward pressure. This is also confirmed by the Ichimoku lagging span on the monthly, which is suprisingly accurate at marking the start of previous bullcycles after major corrections. I have drawn out the distance from the moment that the lagging span (the yellow line that 'lags' behind the chart, mimicking the form of the trend) touches the actual trend with the horizontal yellow lines. It accurately marked the start of the next bull cycle twice in the past and when overlaying it for future projection it aligns with both the Fib Time Zone 1.618 (full cycle complete) and the Ichimoku cloud rising steeply, indicating sharp upward momentum if respected.