„Bullish bounce from that line will be a buy signal and a constant bearish pressure on that level will be a sign of imminent breakout and an invitation to go further south. „
We had pressure, which led to the breakout and a further drop. After the breakout, the price created a trend continuation pattern (flag), which finished with the breakout of it’s lower line. Actually, breakout is happening now so the sell signal is fresh as your morning croissant. The current target for this decline is the ultimate horizontal support on the 5500 USD (red). Chances that we will get there are quite high, actually, with the current situation, it looks imminent. Sell signal will be cancelled when the price will come back above the lower line of the triangle.