Biotech set to Biobust?

This is a daily chart for IBB, the Nasdaq Biotech ETF, things are not looking great. Biotech was once a star of this bull run, but now it looks to be busting out. A drop from 275 to 225 is an 18% loss, that is starting to get in bear market territory. 225 is  key level that looks like it will not hold, note the increase in volume on these down days since the end of May. After 225 the 212 area looks to have some support, the weekly chart below also supports the view that 212 is significant as the weekly trend line is right there. Take a short position and see if 212 is taken out, it could be a pleasantly quick ride down if you are on the right side of the trade.