This chart was posted in twitter (15th) expecting a push up to be stopped by the 50 DAY EMA (red box), and it did reject the price.
Now in terms of the waves, we appear to be done with the ABC (green) move up and an assumption was that C wave can have 5 sub-waves (yellow). It is clear that wave (3) was very extended, so sometimes wave (5) will fizzle out early at 0.382 Fib extension and this is where the 50 Day EMA resided as well.
No wonder the price got rejected
For the Elliott Wave enthusiasts, the yellow (5)th wave appears to be an expanding ending diagonal and we can observe the 5 sub-waves (blue) within. Additionally, yellow wave (2) retraced deeply to 0.786 Fib and thats why the yellow wave (4) had a shallow retrace to 0.382 Fib
Zooming out, we appear to be done with wave 2 (green ABC) of a major move down, wave 1 being the falling blue wedge (leading diagonal) which started at $4400. Below is the post for the zoomed out view
Also note the shorts are setup in a way that as per the last few months, there is a likelihood of a drop, more details in below post
BTW if you want to go short, the stop loss would be $3800, if price goes above that, our count here is invalidated to some extent
Take Care.
Trade closed manually
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The wick was a nice shakeeout (spike to 3795), fell for it. Original idea from twitter actually held because we never hit the stop loss