NEWBORN GREY BEAR CHANNEL: 3950 still in play - 5200 if rejectedEthereum / US DollarCOINBASE:ETHUSDRaynmanA few things here. The Purple micro bear channel was broken, a new ATH was made, now we consolidate in a newborn GREY bear channel. The red line is important to me on a macro level. It represents the mid-point on a larger bull channel created from the DEC 2024 highs & APR 2025 lows. This channel is where others derive from. Getting above that red line targets an above fib at 4795, and if we pressure below, it can target 3950. Both local golden majors. In my opinion, the monthly pennant breakout should be retested as support after proving resistance for years. This is all just my opinion. I use geometrical channel trading as my confirmation for all other indicators. They always align. GL.