With the main trend on the long term time frame being a downtrend and a descending channel appearing after resistance by a trend line. It is safe to say we’re looking at a bearish market.
After price action confirmation, you may open lower time frames to time your entries.
Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.