SNXBTC - Critical Point, Breakout or Fakeout?

We're at quite an interesting point with SNXBTC right now, sat on top of what was a strong descending paralled channel after a breakout of the aforementioned channel, or is that a fakeout? That is the question!

After the break of this channel the price has since dropped back and is now ready to either head up to the next level of resistance, or drop back into the channel and continue ranging through this area.

We've got a nice level of support on the underside but if the price os truly trending in this channel we could see this level get broken as the market pushed further south.

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