After a "taser" setup comprised of similar trend lines has been broken, I'm looking for a retrace to previous support before Ethereum continues its downward spiral. This is a counter-trend position on lower time frames, however we can see that the larger market structure remains bearish, having made formed a lower high and a lower low since the top of the run from $80. With the confluence of a negative funding rate on Bitmex, this trade seems worth a punt, as a rejection at resistance has a high likelihood to carry us to target and possibly lower.