$US500 S&P500 is about to backtest the "old" channel

The S&P500 broke back into its price channel that startet on 30th october 2020
and is about to backtest that old demand line, if it is support again.
If market bounces off of it, we might be up for a wild rallye to the upper end of the channel.
If we fall below it, watch the 4.550 level for support.