Bullish Scenario: BTC needs to break the bearish downtrend line followed by breaking past the $42,286 resistance level for a short-term bullish bias. If $42,286 resistance level flips to support and the resistance level at $44,245 breaks then we could start seeing a move towards $47,050 and above.

Bearish Scenario: BTC price is fighting to break through the $42,286 resistance level , which might lead to a bearish continuation to the downside if the current support level of $37,839 fails. The large bearish flag’s lower trendline and the $34,258, $30,000 price levels are the crucial levels to watch in this scenario.