$VXX setting up for a buy opportunity

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iPath Series B S&P 500 VIX Short-Term Futures ETN (BATS:VXX)

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BATS:VXX iPath Series B S&P 500 VIX Short-Term Futures ETN

trendanalysis headandshoulders supportandresistance vxx volatilityindex volatilityindicator volatilitytrading

Volatility looks like it's forming an inverse head and shoulders, which is telling me that if price is to hold at the lower resistances, it should setup for a great long term buy and also start a more violent selloff in the S&P.

I'd play this through options. If price holds that $20-21 region, then I think it's a good time to buy March 2024 calls or Sep 2024 calls (or both).

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Bought at $20.10

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Bought: VXX 03/15/2024 25.00 C