So in terms of how I am playing this, I am 100% short between 11,000 and 11,500. Once we hit the bottom of the triangle; we will definitely see a small bounce. Rather than immediately switch to longs, I will let the shorts ride a bit and make sure I have a stop in profit but not too low, that I will get stopped out before a potential leg lower. If we fall below the support, we could see a retest from the bottom to confirm it as new resistance. So there will still likely be an opportunity to enter new shorts if this scenario occurs, however it will be more profitable to keep shorts entered from 11,000ish than 9,500ish.
The red dashed line is essentially the most important level to watch and determine whether my idea plays out and we reach a (finally) or the is dead and we just start our journey down. I am 50/50 on which scenario will occur at this point, all that is known is that short between 11,000 and 11,500 is a given (for me).