BTC/USD is dropping from the opening price of $35,999 as the bulls are struggling to overcome the important resistance at $36,000.
This week, after the Bitcoin price touched the high at $40,000, the king coin has not had much action and it is likely to trade within a range.
More so, should the technical indicator Relative Strength Index stays below the 40-level, the Bitcoin price may touch the critical supports at $30,000, $28,000, and $26,000 but on the contrary, crossing above the moving averages could meet the potential resistance levels at $42,000, $44,000, and $46,000 respectively.
Looking at the 4-hour chart, the bears are coming back into the market as the bulls failed to defend the $36,000 level.
However, if the buyers hijack the current movement and push it above the 21-day moving average, traders may expect a retest at a $37,000 resistance level; breaking this level may further allow the bulls to touch $38,000 and above.