A big bounce off the 200MA yesterday following Nvidia's earnings. Resistance around 17,850, could it replicate January's 5-6% push higher?

Nasdaq is battling the resistance here along the descending trendline, currently trading at around 17,849. The tech-heavy index bounced off its 200-day moving average yesterday after the optimism on Nvidia’s earnings, further adding to the current bullish market sentiment. We can see that the 200MA has been acting as a key support base here (4-hourly chart) following a retracement towards it. Going back to January 17^th, after retracing back to the moving average the index then rallied more than 6%. If the Nasdaq manages to close above the trendline resistance today, then this would enhance the likelihood of a move back up toward its all-time highs. If a similar 6% move was replicated due to the upbeat momentum, we could see the index climb as high as 18,400, marking new highs. A rejection along this trendline would suggest that profit-taking is greater than initially expected. Additionally, it would also highlight more caution from investors as minutes from the Fed showed that members are in no rush to cut rates to not allow inflation to creep back up. Support here sits at 17,718 then at 17,477 and then back at the 200MA, which now reads 17,391. Looking at the technical indicators, the MACD has turned positive once again with enlarging volume and the RSI is positive as it reads 63.