CRISP Therapeutics $CRPS has been recovering since late 2018 after it fell to about $22.25 a share. But last week, we saw that price was pushing up against a falling channel resistance testing $37 a share as resistance. We warned about a pullback and considered the strategy of waiting for $20, while also considering a light position at $30. With the current market structure and overall market risk aversion, I would try to avoid entering at $30, and instead start the averaging in around $25. Crispr Therapeutics (CRSP) Recovery Faces Falling Trendline ResistanceCRSP Daily Chart(click to enlarge)Resistance Confirmed:- The daily chart shows that price was rejected against around $37.40. The subsequent dip has confirmed resistance here and is opening up a bearish swing.- The next key price action for the bearish scenario would be a break below the key support pivot at $30. - A break below $30 opens up the pivot at $25.- If price instead falls back to the December 2018 low, I think it would fall further towards $20. - I am comfortable risking some dry powder here around $20-$25, but it is not out of the question if price falls back to the $12-$13.50 support area. - Because this possibility is significant for a new technology that CRSP represents, I would also save up some dry powder for the $12-$13.50 scenario. That means, I would go light on both the $25 and $20 entries.