Great chart VHF. Also worth noting technically is:

(a) volume accompanying previous breakouts

(b) "three taps and out" pattern

(c) duration of down trends historically last no more than 1 year, meaning time is ripe for a breakout shortly

....... signs that tend to confirm the end of a prevailing down cycle. If memory serves me well Sinclair noted $454.50 as a significant TA breakout point back in 2005 (aka Monty Python's bridge) and now $1650 is the next major hazard to fall, which accounts for the extended duration of this 12 month down cycle.