I am making up my own price patterns but I call this the apex vortex of that lower descending wedge. I've seen assets change direction sharply when price crossed the vertical point of existing price wedges (the lower abcde triangle). I expect a sharp up or down in TLT very soon. We could see a sharp drop followed by a sharp rally or vice versa.. I'm currently holding a 2022 put on TLT ITM but I think I'll hold it for the next few months if bonds drop.
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my weekly chart- Just looking at big picture it "looks" more likely to drop like it did in 2008-2009
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2008-2009 similar
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interesting place to park TLT today