ETCUSD: Two bearish break-out levels to watch.

Ethereum Classic is on a declining course on 1D (RSI = 41.548, MACD = -0.212, Highs/Lows = -0.0874, B/BP = -0.3829) with two Channel Down possibilities arising, one more aggressive than then other. If the price is rejected on the next 1D candle, then ETC will follow a more aggressive Channel Down that has the potential to cross even the support of the 1W Falling Wedge at 8.370. If not, it will get a second potential rejection point at 11.180, which if broken will lead to a 1W Lower High near 12.500. Based on this bear cycle's trend, all possibilities should end with a test of a new Low at 8.500. As a result we remain short on ETCUSD with TP = 9.505.