EOS/BTC in a Descending Channel with hopeful Bounce

EOS is trapped in a descending channel (black solid lines) and finding support at the 0.5 Fib level (Blue dotted line)

If this support breaks, look for further descent to the 0.618 Fib level (Red dotted line). I think this is a good position to enter.

0.618 looks to be a strong support line for EOS, and I believe once this support line is reached, EOS will bounce back to the 0.5 Fib line.