If we take the distance traveled by leg 1 of the covid crash, we can see that distance will take us just below the previous swing low on the daily to around $4200. Looking at supply and demand we have a sell imbalance currently which is just waiting for some momentum to reverse trend. We are just below ATH currently, it is quite possible we will not break the ATH and start a leg down between 12-12-21 to 12-14-21.