Megaphone Pattern - Backtesting Downside Break

Will it prove to be a false downside breakout? If it proves to break to upside that would mean there is significant upside left in this market. I think this is unlikely, higher probability of continuing the break to the downside and right now we are just backtesting.

REMEMBER: THE GOAL OF THE MARKET IS TO FOOL AS MANY TRADERS AS POSSIBLE (MAKE EVERYONE THINK WE ARE GOING UP, WHEN WE ARE GOING DOWN) (MAKE EVERYONE THINK WE ARE GOING DOWN WHEN WE ARE GOING UP)