Channel Structure and Upside PathA falling trend channel is shown on the chart outlining the bearish correction that followed the $5,598 record high in January. The lower parallel line of the channel was confirmed with a second touch during the March low, which was also near a 61.8% Fibonacci retracement level, the midline of a large rising channel, as well as the 200-day moving average. This confluence of support increases the significance of that low. A bullish reversal from the low of the channel suggest ...