I'll add my two bob's worth too. Reluctantly I tend to agree with
@maxtoday but for slightly different reasons.
If you have a look at the indicator with the blue and reddish bars it measures volatility. The blue bars measures very low volatility (under 10 percentile) and it to a high degree of accuracy precedes a breakout.
After a low period of volatility there is a build up of energy which eventually results in an explosive breakout. Volatility does not indicate direction, for that
RSI is needed as direction of the breakout. So basically Trend + Volatility (Bollinger Bands) + Momentum (RSI) = Breakouts
At the moment our Trend is down. We haven't seen a period of low volatility (no blue bars), volatility is over the 50 percentile, but RSI is pointing upwards. Therefore, it is most likely what we are seeing is a smaller upwards correction within a wider down trend (trend is king) it's unlikely we'll have enough explosive buying momentum to break out of the current down trend. The MA 200 is at .028 and MA 55 is at .029 are acting as resistance above which are going to be difficult to break through and close above at the moment. Most likely we'll hit the MA 200 at .028 and reject, put in a lower high and then start the next leg down to test the lows again, at maybe .022 or thereabouts for possibly a lower low.
So in my opinion, what we need to see is the Bollinger Bands squeeze tighten (under 10 percentile) and RSI to point upwards, as the BB's expand open for a sustainable breakout to the upside:
