This is a bear flag/pennant whatever you want to call it, nothing else.
Fill shorts around the top of the pattern.
Previous daily candle engulfed 2 up candles. Price trading below weekly open.
There is no need to be upset, that is, if you are short.
Even if it bounces, keep shorting.
Now I'm smellin' like money, got the money and the power
The price action on lower timeframes right now with multiple fake breakouts to the bottom tells me there IS potential for a bear trap with longs getting filled on the fake breakouts, which is why it bounces back so quickly.
I personally took 25% profit. Locking in gains is never a bad idea.