$SPX Crypto Systemic Risk Update

It’s a weird, illiquid market. Odd from many different perspectives.

IF this has finally stalled for Christ’s sake, we should be heading down in 5 (orange) waves for Blue c of Green B.

I believe we are in orange 1 of those 5 orange waves. If this is 1-2 in red (of orange 1), then we would like to see a gap down tomorrow to help us to confirm that we are in red 3 (of orange 1).

Note the large (red) bearish wedge. It would be appropriate to break down from that, and then retest it from beneath (that would be the orange 1-2). I have noted some possible targets for red 3 and 5 on the chart.


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