A look at the big picture using 1M timeframe. In an attempt to remove the daily noise in price, you can see that even after a rough 2022 so far that we have barely scratched the surface of how bad it could get. The thing that I noticed is that the current price action looks very similar to April 2001 and March 2008. Looking at all 3 you can see both had a several month decline in price followed by a about one month of retest of the down channel's resistance. You can also see that all register a clear wave "A" on my cRSI indicator with the cRSI being in the oversold range. There are no other times where the cRSI sees an 1M oversold where the price did not continue lower. I have also added via arrows the approximate price loss from those 2 corrections plus the covid correction.
Just my 2 cents.
Just my 2 cents.
註釋
Update on the purple channel to align with Feb 2020 high and the March 2020 low with start of dot com bubble.註釋
註釋
1D with 20 and 200 day moving average
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