Channel break - retest and short to the long term trendline?

1. Price broke down through the wedge it had formed and re-tested the bottom trendline before moving down to ultimately break the channel it had been in for weeks.
2. Price seems to be catching support - will it test the channel break before moving down further?
3. This yellow trendline is from a move that started way back in September of 2012. This also coincides fairly closely to the price where the broken channel began I would watch this trendline as a potential exit.