Who is currently raising their hand to short this large descending channel?

In principle, shorting at the upper edge of this descending channel has theoretical backing, as many people watch the descending trend line, and even if you short, the stop-loss is quite small...

However, I still would not short on the left side here. If you carefully observe the price during the past two touches at the upper edge of the channel, it has always followed a pattern of quickly spiking to touch the upper edge, followed by a choppy reversal.

But this time seems a bit different?

The price first approached the upper edge of the channel, maintaining a choppy movement for nearly a week, and then tested the upper edge again, and in a rather slow manner...

In my view, this structure leans towards accumulating short liquidity through long-term choppy movement, ultimately achieving a breakout through short liquidation...

Therefore, even if you are currently bearish, I do not recommend entering a short position on the left side... At least wait for a breakout of the 106.5k range before considering...