ETH set to bounce off 61.8% Fib level, Falling Wedge

Since inception, ETH climbing steadily with major downtrend recently, surpassing 50% and hitting major resistance at 61.8% Fib levels, all the while creating a falling wedge pattern. Indicators point towards heavy purchasing and potential reversal at this point. Wait until resistance lines break for confirmation, as this could still fall to the next Fib level down. However this would be excellent turn around point, and is beginning to appear as start of reversal.

Your thoughts?

Comment:

Potential cup and handle formation before furthering downward trend. We know downward trend overall should hit about 80% of previous high, for crashed bubble market. We look to historic patterns for this. We know currently we are trending downwards. IF bounces off previous support turned resistance, can set up cup && handle. Speculation only.

Anyone else see similarities? Differences?