After a volatile drop, price has reacted strongly from the lower zone and reclaimed the mid-range. $NEWT printed a sharp bounce from the lows and is now holding above that recovery area instead of rolling back down. This kind of reaction usually points to absorption of selling pressure rather than continuation lower. As long as this base remains intact, $NEWT has room to rotate higher and test the upper range again.

Trade Setup

Entry: 0.0975 – 0.0985

Target: 0.1000 | 0.1020

Stop Loss: 0.0950

Do you see this as a clean recovery from the lows, or does $NEWT need more consolidation before the next move shows up?