It is a beautiful and classic setup and a good lesson to learn - just the fact that price is trading into a previous low is NOT a good enough reason to speculate on a turnaround. Our 20 is keeping us out of any trouble nicely. It's such a simple rule but one that will always keep you out of troubles.
Price is setting up for a reversal but the amateur is as always too early and then once the real reversal happens, they are on the sidelines because they lost too much money and/or are emotionally burned.
This is such a classic amateur squeeze pattern and it's a beautiful learning experience.