This is another option for an Elliott wave. Special thanks to the user sujoy.sikder.
Let's have a look at the chart. I focused on Elliott since the last bubble and now it makes more sense. The yellow wave is a retracement of the bubble. The black invisible waves complement the big yellow.
I think that $400 is too low to bounce there. When we are at $400 the chart is going in this dangerous double top looking territory: tradingview.com/v/8ss69KFu/
Therefore I expect a bounce at $440, especially at $450 - but I'm going to let me surprise what the collective wisdom of the market thinks.
ChartArt
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What I wanted to say: If we reach $400 we are on the brink of sinking to $100 if there is no quick and strong bounce.
MoonTrader
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I agree. $400 was the major support ever since the last bubble, and when it finally broke it, there was an immediate bounce up to $540, so I think we're in dangerous waters if we go below 440s for any significant amount of time.
Therefore I expect a bounce at $440, especially at $450 - but I'm going to let me surprise what the collective wisdom of the market thinks.