As you see in the 4H time frame, we are in a downtrend and price is moving inside a triangle pattern .
Currently, price is rejected from the triangle upper side and failed to break the last major high.
On the other hand, it is moving on the little ascending trend line . But, since we are facing downside pressure and the main trend is bearish , we can expect a downside breakout on the trend line .
Moreover, we can see negative divergence on MACD . Although price has made a higher high inside the triangle, MACD could not.
If price breaks the trend line and closes a bearish candle below this level, I expect a fall on GJ towards the triangle lower side.
Currently, price is rejected from the triangle upper side and failed to break the last major high.
On the other hand, it is moving on the little ascending trend line . But, since we are facing downside pressure and the main trend is bearish , we can expect a downside breakout on the trend line .
Moreover, we can see negative divergence on MACD . Although price has made a higher high inside the triangle, MACD could not.
If price breaks the trend line and closes a bearish candle below this level, I expect a fall on GJ towards the triangle lower side.