I am just an amature so i apologise if i dont get the jargon right or if this type of analyse as a name.
I just thoiught i would share this as i have not seen anyone show anything similar. I have noticed for some time each drop has a curved shape to it, like it is going to form a rounded bottom, but it never completes and breaks down to form another iincomplete rounded botttom on a smaller time from, then the same happens, so on and so on. This can be tracked all the way downt the time frames, i now see on the smaller time frames the pattern is getting to about 70% complete which could possible suggest we are very soon going to change direction if it holds true to convert to the longer time frames. This would fit with the above, but i think it might be a much more gradual change of direction than what seems to be the general thought of us seeing a huge bounce.
So my prediction is short for short term to about 5500-5600, then long positions after that

Of course all this may well be wrong, i am just an ameture with no technical analyse training