Confirmation bias my man. The chart is in retracement or...

Confirmation bias my man. The chart is in retracement or correction mode. Also remember, in speculative stocks where liquidity is an issue, the TA can be exaggerated. Both bearish or bullish patterns are being played out. Which one prevails.
The formation of a bullish pennant or wedge or is it a retracement rectangle or even a bearish descending triangle, the key here is it is the midst of a retracement/ pause/ correction. The outcome is in the breakout and most recent break was bearishso extreme st player would have exited at the breach in the low 5s. Now 4.5/4.6 comes into play with and it was encouraging to c the rejection.
So now we are looking for a move up to break through that descending trendlines.
Entering at these levels is risky as many holders are still holding on a great buffer since the move from the 1s and 2s. However risk reward is great and a buy with monitoring of stops is important.