Key levels have been broken. Will act as support now.
Check out the different trend lines and how price has accelerated.
Let's gain some insight with Fibonacci Projections and Elliot Wave Analysis.
This movement could be labeled like this.
There is a five wave move which ends the bear cycle and a new bullish pattern composed of five wave starts.
We would be in the third wave of a major one wave in larger time frames.
Third waves are usually extended. A typical target is 2.618 which coincides with the previous top
Extended waves usually lead to quick and sharp corrections with the 0.382% retracement the most likely.
