Also have this in mind. A counter argument

I could see what you mean in EW, but in traditional TA analysis, this double bottom between Jan 2015 and Aug's low is huge, compare to intraday size it's daily and even weekly.Also second low with less volume but higher low show bullish strength. In moving average theory, price is above weekly 30MA and daily 20, 50, 100, 200MA are all line up pointing upward, exchange volume is large money flow in. Normally in moving average theory we can use 200 daily MA and weekly 30MA to identify bullish and bearish cycle. Sometime EW counts would be difficult but could have forecast meaning, but combining price with volume analysis it's obvious August's low with less volume showing some bullish strength and increasing daily trading volume confirm it, IMO.