Exploring the Bear Scenario

Let's assume price doesn't break above the channel and we have a wave lower. I personally think price will find support at one of the fib retracement levels of this first wave up. 50% retrace is usually where I start to look for real support. That said, if we go all the way to the lower regions of the bear channel, then some amazing buying opportunities will become available.

I think we will see support at a higher low, just like i said in my last idea. Consolidation sideways for a few days and then potentially a new wave up and out of this bear channel.