Price action is currently confined within a converging structure, respecting both the ascending support and descending resistance trend lines. Each test of these key levels has resulted in sharp reversals, highlighting strong market sensitivity at these zones. The latest move has completed a wave near the upper boundary of the ascending trend line, where price has shown signs of exhaustion and rejection. Given the repeated failure to break higher and the proximity to resistance, there's a heightened probability of a bearish reversal, with downside potential targeting the support zone. Until a clean breakout occurs, the bias remains short-term bearish within this tightening range.