Ethereum in-between a rock and a hard place

Ethereum looks to have broken out of its wedge but is staying well in a larger upward channel.

The bad news is it was well rejected like a rock at a 38.2% Fibonacci retracement today. The good news is that long term, it seems to have likely stopped retracing at the 61.8% Fibonacci retracement at 1.3K (so far, the hard place).

At this point, it is possible to continue upward toward the next retracement line near right below 1.8K (which is quite possible as Alts usually slowly follow BTC), but I imagine it is more likely to fall back to its retracement right below 1.5K and potentially fall back near the original retracement around 1.35K (which would be great, as it is a great "buy" opportunity AND also a reverse head and shoulders pattern, indicating a potential reversal of the down trend).

Time will only tell if I am right on these assumptions, but seems like a win-win for an upward trend if either of these assumptions are right. It will take a week to fully be sure, but hopefully the resistance near 1.4K holds at the very least.