Rising channels are formed when you have higher highs and higher lows on whatever time frame the trader is trading. These types of patterns generally break to the downside, but not always.
The chart below is how I look at these formations. I want to try to find a place to get into a trade in the HOPE that the channel will break down. So I would be looking to short the top of the channel so I can increase my chances at the most meat the in the trade.
You could also short the breakdown, but I find this to be a much much lower probability and higher risk trade. I do not buy highs and do not sell lows.