Aftger the buyer rejection at 3970, sellers started the liquidation. They pressed specially hard at 3960-3935 and moved price under 3900.
After that, buyers took control, rejected with violence 3900 and 3911, then they consolidated around 3935 (it was a previus level of resistance on december).
We will see if buyers can consolidate over 3935, and test 3970 again.