MMF22R

Just my setup, could you give me some feedback?

Long
MMF22R Updated   
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
This is just my current setup. I am trying to improve my skills with Fibonacci lines and channels.

I noticed that those Fib lines seem really accurate often, and so I decided to learn about them.
(Time ago I was searching for ideas on BTC charts, and then I had finally found many ideas from @vox-populi ).

I would really appreciate having some feedback from you, helping me learn.

PS: I am a newbie, so please go slow on me, thanks! :D
Comment:
Hopefully, this should be just a fakeout to the downside of the old main trendline, but probably it will be a short bear market...