Lacking impulse, price bounces down perfect pitchfork channels

The same trajectory from before and after the "flashcrash" is still in effect. Touches, rallies, pullbacks, reversals all happening right along standard pitchfork trendlines. But all patterns must eventually end...

A look at the 4H chart showing the long sideways since the peak Jan 6th shows a gentle decline collapsing into a steep one. Yes, a rally is expected, but it's terribly unlikely to happen from such a steep slope. Another solid drop and then horizontal retracement and consolidation will be needed to establish a new floor and begin a new impulse.