A couple of months ago, share price of Crispr Therapeutics $CRSP bounced off of $30, but we said the upside was limited because this market has turned bearish at least in the short to medium-term. Crispr Therapeutics (CRSP) - Waiting for a Deep PullbackIn this previous assessment, we noted that the upside should be limited to $45, while the RSI should be expected to fall back from 60 if CRSP is indeed still in bearish correction mode.CRSP Daily Chart(click to enlarge)Bears in Charge:- Price didn't even climb back to $45, finding resistance around $40.- After some choppy price action in October/November, the RSI was still held under 60. - In December, we are seeing price action fall back into the bearish mode.- I think the market is primed to pull CRSP down to $30, and will likely break lower.- If so, the next key level will be around $24-$25, a previously key resistance area.- I think we should at least wait for the correction back to this level before expecting a bottom.- Even a deep pullback to $20 could be within the context of a long-term bullish trend in CRSP. - This type of sharp pump followed by deep retracement is very common in these biotech names after they IPO, so we should not be surprised and instead anticipate a deep retracement in CRSP.