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Ethereum breaks support trendline & elliot wave failure

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Ethereum (BITFINEX:ETHUSD)  
Swordth  
BITFINEX:ETHUSD   Ethereum
Trend Analysis Support and Resistance Elliott Wave
2
5
trendanalysis supportandresistance elliottwaves
Strong trendline support looks to have broken yesterday, and now we are fighting to get above it with conviction.

Chart was following a nice elliot wave sequence, but now wave 4 seems to have overlapped wave 1 (failed wave). I need to brush up more on EW analysis to further make sense of this.

Overall seems bearish.
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