BTC: A retest of the existing channel, we're still going down

Some think that since we broke out of the channel on the 1h, that it's time to go long and the bear market is over. As much as I would like to see that happen, it is very unlikely. We are still going down, hopefully to hit a long term fib target at $2660. The price on the 1h has retested the parallel channel, and now we're going down.