Knowing EW reveals to you that the rises during major downtrend are correctives and knowing classic TA shows you the likely resistances. More such clues are revealed such as negation points, targets, etc..
A more bearish chart is shown in the "5-Minute spot" below the "Hour chart". Accordingly, we'll look for a deeper cut if its the "3rd wave". If it is "v"th wave as shown in Hour chart, it should pause around 4900-50.
Trading below 4990 & 5035 is weakness for deeper falls.
"Sell on rise" continues... till a close above DLEma.