In case 1st move down was an A, B nicely retraced to 61.8% and probably already ended.
Minimum condition for 2nd move down (wave C) is C = 0.618 x A.
This means next target is at least about 1st downmoves low (0.618xA) and may even extent to 1xA, 1.236xA or even 1.618xA!
1st move down reached 50% retracement, move up since then looks corrective. 2nd move down made 61.8% of the 1st one, but since then bull power is missing. I expect the 2nd move down to continue, watch 61.8% and 76.4% retracements of the big upmove for reversal patterns.