What stands out is the repeated failure to reclaim prior highs. Each bounce loses strength faster than the last, pointing to weakening demand. This rules out a rectangle due to the declining highs and differs from a falling wedge since support remains relatively flat. The structure looks more like distribution than accumulation.
Given this setup, I lean toward a downward break happening first. Descending triangles tend to resolve lower, especially after a strong run when momentum cools. Unless price can break above the descending resistance decisively, this consolidation feels more like a warning than a bullish pause.
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- icycrystal·01-19 21:29thanks for sharingLikeReport