2 possible scenarios for ETH

Hi guys,

We have 2 possibilities :

1) We are rejected by the trendline and the 50EMA (4h chart) to go back to the descending channel to 345 and to pull back from there
2) We break out the descending channel and the 0.236 FIB (397) to retest the previous trendline around 445

What do you think ?

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Best,
Maxime