1. start of elliott wave at 0 its a second top of chart in very large scale which indicating its bearish in very large scale 2 lower trendline is very strong trendline of its time and tested very well in past . so there is no question its a very strong support level 3 price are on a wedge from long time a month ago it tried to breakout but failed . and trader wam this back to this wedge. 4 its breakin through blue trendline so it need to retest line for confirmation