Looking at the 4h time frame we can see a bounce off the 21 ema if the bulls stay in control in the short term a possible scenario could play out as suggested, fwiw on the daily time frame we look a lot more bullish being well above both ema's. Time will tell gl.
Comment:
Have gone short atm expecting us to test 3600 level
Comment:
Almost tested 3600 and have continued going back up which is a good sign for the bulls, this scenario is still on the cards of playing out, watch the ema's and 3550-3600 level breaking, for now i see us consolidating in the 3700-4k range before re testing 4200 and ideally breaking higher resistance levels, the more we test 4200 the more likely we are to break it, no longer short gl.