Sharp dip before massive Bulls?

* Monthly.
-Previous M1 Candles closed below 1.27731 Pivot high.
-Price broke 1.23106 Pivot Low but failed to retest.

*Weekly.
-Recently price formed lower high to 1.28222 directly below 1.27731 Monthly level (W1 Candles closed directly below it)

*Daily.
-Price approached and closed below 1.27731 Monthly level.

*4 Hour
-Bearish candles formed rejecting 1.27731 Monthly level.

IMO: Might be Bearish from 1.27731 to 1.23106 before Bulls take it away.

Swing trade short with potential 1:7 r:r

Just an opinion. Do your own analysis and let's share.