On the 4 hour chart, we can see that the price recently broke below the upward trendline invalidating the bullish setup and turning the trend around. The sellers piled in around the downward trendline where they had the confluence with the red 21 moving average and the fibonacci retracement levels. The buyers, on the other hand, will want to see the price breaking higher to invalidate the bearish setup and position for a break above the $80 resistance.