Nasdaq Composite - Breakout or Breakdown?

The tech index is about to either breakout above the resistance (red line) with a large new leg higher or fall back down to the old price area this or next week. If the reaction this week is a pullback I expect the price to fall back down all the way to the 4900-4910 area. (green line), which is below this monthly pivot price and at the last month's pivot.