With the recent failure to breach the All Time High, Ethereum is potentially on its way back towards the lower support line of the triangle. This trade is based on the idea that Ethereum will actually fall back. In case ETH decides to form a new ATH and pierce through the upper resistance, this trade won't be valid anymore.
The target for this trade would be the ATH around $1440. In case bullish sentiment picks up again, feel free to hold it longer. Do your own due diligence.