If I understood properly, you are on daily charts. Than yes, you are right, trend is definitely upwards and it is too early to be bearish. I daytrade, so these insights are for shorter term trades and I'm not expecting a significant move. If it will get outside levels I mentioned I won't be trading today.

Based on open interest and volumes, we had some liquidation on Thursday, congestion on friday. Yesterday we had minor accumulation, but the way it played at the close I don't see that market accumulated enough to break up from this flag.

the all time high was also formed during opening and mainly was a result of liquidation of short position during Monday 06.19 opening and the gap from friday and did not look like new players were jumping in for long at those prices. Similar situation also formed 2447.5 high, also during opening with the gap liquidation of shorts during opening with significant sell out. This caused formation of this flag, which is largely a retrace to June's major volume or balance area and now we are below it. You can see it on this chart with volume profile:

But the way bottoms are being bought, definitely doesn't provide much confidence for short from longer term perspective.