This position can be shorted or longed; both are good positions.

On the daily level, it touches resistance, and once it breaks through, the upward momentum has great potential. But if it can't break through, then it's a high position for a downward move, pulling back to the top.

The daily level even looks like a bear bottom.

The 30-minute level is already on the verge of collapse.

It depends on which level you choose to trade; if you're trading short-term, you can short one lot, and if it breaks upwards, you can set a close stop-loss, which is very near, so the position can be quite heavy. If trading on the daily level, you can wait for a breakthrough of the resistance point, then enter with a light position immediately, setting the stop-loss at the midpoint of the 'W' bottom.

Personally, from a rational perspective, I tend to short, because in a bear market, shorting clearly has a higher win rate.

As for when to take profit, just watch for danger signals to take profit; once it breaks the trend line of the level you are trading, immediately take profit on a portion; if the 20-day moving average is also broken, then you can take profit completely.

This is purely my personal opinion.