Let’s see how BTC is behaving.
This is a 1H chart. (Short Term Term)

In the past 5 BTC analysis posts I’ve shared, many of you have texted me and talked about a downtrend coming.
Well, here is the only scenario I can see for that.
There is a dynamic resistance forming a downtrend channel that isn’t strong at all, but if buy volumes aren’t strong enough, it might get activated.
Two other resistance areas are pushing down on price.

Support levels: $38000
Resistance Area: $40000

Bollinger Bands can work as support and resistance too. Here is an example:

The market is showing SELL volumes for BTC .

Two resistance levels push down on value, and one support level holds the price high and shows strength. The higher band can work as resistance.

The Middle Bollinger Band can push down the value, and the Lower band pushes the price up.

If the price crosses the local resistance and stays above it for confirmation, we can open our long positions, aim for the next resistance, and use it as a TP point.

The RSI shows that BTC is above the 50 levels, the center.

If you want to know how the RSI indicator works, take a look at this Educational Idea. It’ll help you have better readings:

Current Market Price: $38812

Let me know your ideas.

Good luck.