I don't think I can win the challenge with this, though I want to participate.
APD: the pic was redone. Thanks to Olesia for her advice to add some blinking "fignushki" (things - rus.).
if i can add a suggestion, placing the bubbles in the bottom of the image make them look like they'r sinking. i would place them much higher to give the impression that they'r going straight to the surface. and... where does they come from? if there is an air source, the bubbles sould make a line or at least following some kind of logic... anyway i like the raw rendering (very another worldish) and i think your pic should tell a story or something it will be much stronger. but i tell it again, i like the ambience !!!
With better defined lightsources, a more contrasting and interesting palette (with "hue shifts"), with perhaps more colors (but not going overboard, using them scarcely only when needed), this would look much better.
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