This is a very easy long on break of yellow line with good support on cyan line so stop below is good. Really you can buy up any dips towards the cyan with a stop below and feel pretty good about it (sure worked out in similar spot on left of the chart).
But what are all those lines?
The two pink lines are the 0.5fib retrace of previous run ups which put algos in play for playing these bounces.
The green lines are algo targets based on bounces from these 50s. Notice how the last peak was exactly at TP1 (darkest green) and how the TP1 of this bounce lands right on the top trendline around $1 where one would expect a reaction. The light green lines are TP3s for the two fib pulls and the brightest neon green is TP2 for both which lands on exactly the same level.... I would bet on decent reaction there.
The top hot pink lines are common fib extensions for a wave 3 if we did indeed put in a 1-2, 1-2, but I am mostly focusing on the green targets.
Not financial advice, just sharing how I see setups. Granted in this recent environment just grab a bag on the break and ride it till a TL fails...maybe it is the next 20X ;). I just might have a runner, but will also take profits with the algos.