Potential Bearish Continuation

On the H4, with price recently breaking the ascending trendline, we have a bearish bias that price will drop from the pivot at 30783 in line with the overlap resistance and 50% fibonacci retracement to the 1st support at 29662 at the swing low in line with the 61.8% fibonacci projection. Alternatively, price may reverse off the pivot and rise to the 1st resistance at 31858 at the pullback swing high in line with the 61.8% fibonacci retracement and 78.6% fibonacci projection.