Swing 1 was an initial bounce off the lows putting a halt to the . Much more importantly, we are currently in swing 2 which put in a and has exceeded the highs of swing 1 in a 20%+ move. This puts "the bottom is in" scenario back into the spotlight. This sort of bounce, shortly followed through by another bounce even higher has not happened in a long time.
I'm looking for additional confirmation by price reaching the $4550+ zone without much struggle. That target is projected by the midpoint circled (50% fib level goes here). All other fib levels are of secondary importance.