If it breaks the uptrend channel, we could be getting another 5 waves down. Next major support in the 8k-9k area. Question is if its the 3rd wave (like I have it here) or the 5th wave that will be the hitting this support. If it's the 3rd wave, then we can potentially see trading channel bottom again or bottom support at around 5k...
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It's on... Here is a slightly less dramatic possibility
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Seems like the original chart is on track. Will find some buyers in the 10k-11k area. However, the downtrend continues. I'm waiting for the 9k
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The descent extended itself. Still on a bear market...