$TSM descending triangle - what do you think? Up or down?

Beautiful channel formation here but the time has come where descending triangle is forming, these are usually bearish.

TSM is having problems with production due to water shortage, MU ceo yesterday talked about how NAND demand is not necessarily as high as the market thinks. Different industry, but is this company really worth 3x pre-covid?

I lean towards bullish as the 200ma approaches but the technicals on paper say otherwise.