Yes, while one can never know for sure, here are some signs that can put odds on trader's side. In December 12,000 was inflection point, where price break above with the power (demand), that same level has been later tested and it is being tested again, on a heavy volume (wash out). And dnce hammer is being formed on 4hr chart. Odds are better on a buy side here...
Entry strategy should be chosen based on each personality and each system, entry could be if price on next candle is above this current hammer or a little bit safer entry, if/when price crosses back above 12,000... And no guarantees, but setup looks good ;-)
Well, that hammer didn't hold, although, we are now bouncing back.