If it does form the simple pattern, then be prepared for a further drop from it's current level.
It has also just hit a level of resistance. I'm anticipating a retest of this before looking for an entry reason on the 4 or 1 hour time frame to go short.
Be aware it has also showed some previous rejection from the 61.8 Fib level, so if it does go short, it could quickly reverse at this level, if not, then enjoy the ride as it keeps dropping. Good luck :)