If you watch the charts on 1D candles, you can clearly see they purposely leave gaps to fill. Today, they covered the 30k gap, and I speculate they may even pump this up to fill the gap in the 32k range in the coming days. This is the last gap to fill, and I believe that's their marker to collapse it on everyone who FOMOs back in.
I'm not a financial advisor, just stating on what I've been watching for some time now.
Would you short a specific sector/stock, or the index as a whole?
I don't mess with leverage one bit. If you've ever noticed those random green spikes before a drop, I believe this is the market makers liquidating all short positions to make sure nobody makes money on it. It's a very high risk, high reward situation, but i'm not getting involved.