That's what I'm thinking as well, the drop was too fast too soon and it's forming a bottom here.
Although not very happy with recent action the last few days (I have a significant amount of CHTP march call options which are more volatile), it's never easy to buy at the exact moment after a 15%~20% drop.
I'm thinking the bottom is around here somewhere close to low $3s according to the chart. Looking for a big pop shortly.