The top most horizontal line here is at 47k , which of course is the monthly high thus far. Following this most recent rejection, BTC then retraced to 42k a level of support that was previously rejected in January, crashing to a bottom of 32k. In February, 45k was rejected with a monthly bottom of 34k. In March, we again witnessed a rejection of 47k . However once again, March set a higher bottom over the previous month, with a low of 37k. Fast forward to April 13th (day of this analysis), there is heavy resistance at 40k and consequently it is likely we retest 38k which (if held), would again set a new bottom over the previous month.