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Breakout reversal short, if the breakout doesn't happen, then wait and see. This flexible approach to responding is much more reliable than just being overly bullish or bearish.
Can the current position be strongly bearish? Looking at the pattern, without breaking below the major trend line, before the previous support at 7.9-7.88 drops, is it really a bit early to be bearish?
If it directly breaks down, then taking a short position could also recover losses.
No one can predict the market, but understanding what reactions might occur at certain levels can serve as a reference.
What’s drawn may not be entirely correct; just for reference...