A close above $9,000 would confirm an upside break of the falling channel, meaning bearish-to-bullish trend change. It would also add credence to the bullish 5-day MA and 10-day MA crossover and open doors for a move higher to $11,500–$11,800
On the other hand, a close below $7,851 (Nov. 2 low) would signal the corrective rally from Feb. 6 low has ended and would encourage stronger sell-off to $5,000.but i dont think it will happen.