FMG Technical Analysis, page-11487

Last weeks candle closed strongly bearish, this weeks looks like it MIGHT close bullish above the first gap fill.

If retail are buying here expecting the bottom, you can guarantee the bigger money will come in and liquidate the longs before pushing the price up. Daily candles haven't grabbed any lows all week so I'd expect a big liquidity grab before pushing up. Or more likely, a push further down yet...

The market is always chasing liquidity, if there's none to grab then it will wait for liquidity to be formed and grabbed before making the push. There was massive liquidity sitting below these gaps, the price was always going to come down and fill them at some stage. Be mindful of the smaller weekly gap below as well, odds of filling it being so close are pretty high IMO.

Patience pays. I'll be sitting on the sidelines and letting price action tell me it's ready to turn rather than trying to guess it. Don't try and catch a falling knife!
No one can "predict" the market, you can only react to what you see...
For those who are reading through these forums and believing the big posts full of technical analysis fancy words and predictions, blah blah blah, just be careful...

Price action is way more important than any indicator on a chart, wait for the higher timeframe candle closures and keep it simple!!