cant just draw horizontal line and call it a day- little more intricate than that. by your chart - we have broken down already and if the following weeks we see major major impulse moves to the downside then this chart will hold validation.
otherwise - you can easily draw a curved regression or a downward sloping wedge just as easy as the convenient descending triangle. the weekly indicators imo arent at a position where we could see major downside - but its all up in the air right now until its clearly defined