Currently I see good edge for both testing a short position (perhaps not right now at this level) and going long with a stop @ gap up open or somewhat below 204 bottom or @ hourly MA20.
If you miss the train, look how SPY pulled back to hourly MA20 in February after the runaway gap earlier. Expect similar event now.
I'm in the bull camp as long as gap is not closed, or we go below hourly MA20. I'm not confident it will blow the roof though, and sceptic it will go directly above the drawn channel.