Yes, this is falling egde

The target is basically caculated by using the height of the wedge at the start, and add that to where the breakout point takes place.

Falling Edge/Rising Edge is not very accurate. I trust Elliot wave and Fibs the most, but use this as a 3rd degree confirmation.

In this case, 98K also happens to be 78% boucne back and that is where we are likely to see some sell off