I was doing an analysis comparing 2008 and 2016 and I found that if we go down very soon, it will confirm the downtrend channel (144 degree purple lines). More than that, we are also just right before a 108 degree angle. I draw 2 options from that point.
Option 1: Mother of all crash in the red upper part channel.
Option 2: Major downtrend waves in the purple channel
You might need to reajust the scale of the chart a little bit, see screenshot below as a guide.
Static screenshot image
Option 1: Mother of all crash in the red upper part channel.
Option 2: Major downtrend waves in the purple channel
You might need to reajust the scale of the chart a little bit, see screenshot below as a guide.
Static screenshot image