One of the biggest factors people don't talk about much nor understand when it comes to price action - is time.
We may have bottomed price wise. But time-wise, could be another week or two before we leg up
Or it could start now
Daily MACD needs to work it's way through this consolidation here and go green
I call 4hr/1d red MACD the torture chamber because no matter how bullish you are, it may just need more time.
This is why often you see something pump and retrace, it's simply not ready to move.
Not enough hands have changed and gotten into place before the next show.