TVIX has played enough waves to consider it having bottommed moreover, I kept saying that it had to tag that lower red declining trendline forming a lower baoundary of a declining wedge. I noted that it could even undershoot it. And that finally happened on Friday at close. However, this move can still extend lower. On Friday we hit the first confluence of fibs at 21.05-21.18. But I see even more powerful magnet at 20.12-20.09 where several fibs form a tight confluence.