BABA - Suffering may be over soon

Back in March, I posted that BABA looked really bearish, with a first target of $170 (see related idea). Well, things got even uglier and we´ve fallen almost 80% from ATH.

What´s next? I believe we may to close to the end of the drop, considering that we already have a 200% ABC zigzag extension, with 5 black waves completed for gray wave C. We also have bullish RSI divergence on the weekly.

But I don´t trade wave counts, I trade price action (supported by wave counts), I´m still waiting to see a solid bullish movement before making any decisions. I´ll at least wait for the descending trendline to break.