ETH possibly going lower then 3.5K?

If ETH/USD brakes the Fibonacci Retracement support of 1 - right at about $3499 - it could go as low as $2971, considering the 1 hour chart and that the Bollinger Band is in a downtrend. If you go to the daily chart you will see a big curve pointing down. I guess this week will be an interesting one to find that out.

I would see this as an opportunity to buy at a huge discount, if such a thing happens.

Any thoughts?