Interesting sideways channel on larger upward channel pattern

At this moment, we can't really determine, based on how $NASDAQ:CARA played out this morning, whether or not the market will continue along the larger channel or degenerate below 6$ price range, playing out a new trading topology. For now, we will stay conservative, keep the 3% price movement winnings from this morning in our pockets and wait until the smaller channel breaks high or low for further confirmation of continued pattern action.