The upward momentum is weak, the bearish trend continues, and if the support at 4160 can't hold, it will drop another $200 to around 39.
I mentioned yesterday that after a quick drop below 4380 following a rise to 4570, it was a false breakout. After sweeping away the liquidity from short positions above, there was a wave of false bullishness. For those who were misled into going long yesterday and didn't set stop losses, please consider carefully.
If you are trading on a large time frame, you might not care about a few hundred points. However, the current small time frame shows a downward trend, with a correction in the larger time frame. Day traders should wait for the small time frame to show a bullish reversal before entering based on the signal, as this is the safest approach.