Possibility for further movement to the down side?

Observing the current downtrend channel on the hourly time frame on BTC/USDT chart, I cannot help but notice a temporary EW count going on. So far, I could recognize waves 1 and 2 successfully touched the margins of the trend channels hence forecasting a further decline to the down side to touch the bottom margin of the channel close to the 35K support line.

This is a very amateur analysis so I am really looking forward to your reviews and comments.