Well, by time factor, the price should have bottomed out already. The fact that it didn't meet the lower end of the channel may mean a directional change.

The Bollinger band is still down, so that means there is plenty of room to drop.

However, the fast moving average is diverging from the bollinger band, which means a correction is possible

As for larger time frames giving a smaller drawdaown, not so. Drawdowns are larger, with larger time frames. Charting is fractal. The larger the time frame, the larger everything. If you want smaller drawdowns, you have to move to faster time frames, and trade shorter swings.

I have a proprietary method (meaning I made it up myself) for limiting loss size and draw downs by using the relationship between the moving averages and the BBs.It keeps it so many would be losses for others, end up being small wins for me. This is why you see some many little 5 and 10 dollars positive trades on my sheet. If not for them, my win loss ration would be the same 50% or less as everyone else.