Potential exhaustion point

Looking at a confluence of resistance here. Based on the 1h and 4h closing price this is the most valid place for horizontal resistance as we can see it is a confirmation area where price began its decent towards 29k.

It is also where we come in towards our rising channel resistance we could expect some sort of consolidation or a potential short term break down in price.

Confirmation of this breakdown would be a break of the underlying trend (orange)