Etharium view in 1 hr chart. Long for short term .

Eth has been following this descending parallel channel from 8th May. For short term traders this can be a good opportunity to long eth when it's near the base of the channel which is roughly around 1528 - 1538. The target could be the middle of the channel depending on where it meets. The stop loss could be 20 points outside the channel. If it somehow breaks the channel on the downside then there is a free fall. Please keep in mind that this is a hourly time frame.