If doesn't pickup, there's a chance we hit the downward and continue following the line down or get rejected by the . If we break down through support at ~3815 we may break to the next lower down to ~3600 and then retesting the major around 3500 a third time.
My view is that we're heading to 4400, bar any fundamental events. The 4100 resistance will turn support for the next rally up.
So we bounced off minor support at 3880 and short-squeezed through the resistance zone. Cleared this zone and hit a previous resistance point at ~4200 for some minor profit taking.
If shorts continue to be squeezed and we break through 4200 on the next run up, we'll see profit taking at ~4400 and then reevaluate the position.