Trading Channels

On the days interval it seems a horizontal channel is forming and the price is on its way to the 5th point of the channel which is my price target of 0.757. On the days interval, there is also a potential rising channel that started on Oct 12 where the price is on its way to the 4th point. The 4th point in the rising channel would align with the 4th point on the horizontal channel. On the 4 hour interval, we are in a downtrend that has formed a falling wedge that started on March 8. Although the falling wedge breakout would be bullish, i would not bet against the downtrend until the price reaches the 4th point of the falling channel on the 4hour interval which would reach a price of .363 or lower. On the 1 hour interval, a rising channel aka bearish flag has formed which indicates a bearish breakout that would push the price down to .363 thus reaching the 4th point on the falling channel on the 4 hour interval. On the 1 hour interval, an elliott wave has formed and is on the 4th-5th wave. This elliott wave is what created the rising channel on the 1 hour interval. The 5th wave on this elliott wave could push the price to break the falling wedge resistance on the 4 hour interval which would ultimately push the price upward to my price target of 0.757. ASide from this, a m waiting for my ema and cci indicators to confirm a positive upswing.