The analysis suggests a potential five-wave move to the upside from June's swing low might be complete, marking circle wave one. The current pullback is tracked as wave two, with an alternative scenario considering a shallow pullback. Focus is given to the possibility of a five-wave decline from the recent high, potentially an A wave, followed by a B wave bounce. A C wave down is expected. It’s highlighted that many charts show similar patterns and the market can be bullish. The primary risk level is identified at the 78.6% retracement, around $13.01. Resistance is noted around $23, with a strong resistance zone near $23. The next objective for bears would be driving price below $20.80, that completes a larger ABC structure.