A ETH bearish perspective

With all that is going on with the world, and now the FTX fiasco, and possibly potentially other exchanges needing an audit done to make sure the FTX event won't happen with other exchanges, It is, in my opinion, we are to test the last local support of this year., If we break this the only place I see major support is at the 300$ area. But if negative environmental factors continue on. If there is a sudden pivot with the bigger picture with global economics, geopolitics like the war in Ukraine, and other exchanges turn out to be more legit as FTX, it may boost confidence. Right now the market has a risk-off attitude towards the bullish side.