The price fails to establish a new high for the current expansion, this expansion is actually a contraction last movement. Thus:
We can expect a further expansion down if the price breaks the point A.
If the price rebounds from point A we can expect an upward movement to the point X (The top of the dynamic range).
If the price breaks point A, it sure got at least to point B.
If the price keeps a good bass player can take the first speed benefits at point B, the second at point C and the third at point D.
This moment is key.