I have been viewing the last weeks (since the Jan low) as a reversal pattern, with higher highs and higher lows on a weekly and daily time frames. We are currently trading under significant multiday averages (20, 50, 100), and bounced off the 38200 level.
The current channel looks like a giant bear flag . We might break down further from here towards 36k and then 30k.
I am not short yet, and I am hesitating to go short due to the fact that I am fearing rally here. The reason I am expecting this rally is because in this channel, which looks like a giant bear flag , we have been creating higher highs and higher lows on the weekly time frame. We are not on the lower border of the channel and unless we brake below it soon I dont think we will see 36k for some time.

I will place a pending short @ 38700.
SL 40000
TP 38000

I will also place another pending long @ 39600
SL 39000
TP 42600