It's working hard to move back up through the levels here. I see the $2300 50% Fib from the spike at the top to the bottom at $1850 as the bull/bear pivot. Once over $2300 I'd look for a long back to and above the top of the chart - probably something closer to $3500.
If it's doesn't break the 50% line then I think it will need to revisit the $1850 and possibly double bottom.
If it's doesn't break the 50% line then I think it will need to revisit the $1850 and possibly double bottom.