Yesterday evening (UTC) I expected the 4h candle to close above this 4h resistance level which would have caused the price to test the recent high and the 4h resistance 2 zone. But that did not happen as the 4h candle closed below and that caused the price to fall further. Currently we bounced back to the 4h resistance 1 zone from support area marked as the line on chart. The likelihood of price to retrace back down from this 4h resistance 1 zone is higher.