the price had a nice reaction yesterday due to the FOMC and now the market is testing the weekly resistance as new support 40660 it’s an important level for Bitcoin .
On the Daily timeframe , the price is trying to create a new Higher High above the 4h resistance (42k)

On the lower timeframe (4h) the price is trying to have a new breakout from the pennant .

How to approach?
The price needs to create a new Higher High on 4h Timeframe above 42K with confirmation and Volume . Otherwise If the price is going to lose the 39k , The previous scenario (the short one) comes back and the next valid support is 34-32k
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Keep in mind.

🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.