Ethereum ready for another big dip?

Since the big dip a couple days ago, Eth has been working its way up an ascending channel. It's now back at the bottom of the channel and looks set to start dropping quickly to test support levels of $1350. What do you think?

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I missed this when I made this chart, but if you draw a line from 22 Feb 7 UTC down to where we are now it's a big wedge getting ready to break down.