All,
I think simply one of two things happen.
Scenario #1:
-we hold the uptrend and break up to retest 68-72 and possibly go to new highs
-we are entering somewhat of a squeeze (bollinger band not hedges lmfao) -- hitting channels on multiple timframes
Scenario #2:
-we crash below uptrend support again (already lost a few tight uptrends)
-we then crash and hopefully hold a falling wedge sharply down into the low 40s (still needing to create a HL) this will not only cause a divergence most likely but be a very explosive breakout.
Will update later with additional thoughts.