The white line is a double exponential 21 period moving average. The second thing that jumps out at me is that price is trading under it, and tried hard to get back above it last month and couldn't.
The channel you see is a two standard deviation channel with the middle line being the mean. It looks like price wants to revert to that line and the 34 MA at the same time. The topping action can be seen clearer on thee weekly chart below.
With that in mind, below are some Fib resistance levels I'll be using to short $ZB_f
In the mean time, $148'11 on $ZB_f wouldn't surprise me. $148'24 is a perfect short for me, but, and there's always a but... But, there is a trend line break recently that could be a short opp. Here's what that looks like
With this short the 30 yr UST trade being nicknamed the "widow maker" from killing so many traders, it has the potential to move fast once more traders realize the coast is clear. It also has the potential to back fire and make a few more widows before it's all said and done. So be patient and wait for the right time to put the trade on (at resistance) and keep your stops as tight as possible ( 10 or so ticks above resistance.)
Good luck and happy hunting!