But let's say, this was a potential triangle and we had a false break out. We're back in that area again. Now, if we will see some buying action happening, then I will be aiming for a test of around $49 level.
After that, it depends. Further squeeze is possible.
But if the inside the (the middle line) will prove to be a good resistance, then further declines to lower levels would be possible. Then I would be aiming for around $45 level.
As always, keep an eye on the price action!