BTC Weekly Analysis: 38000 critical level

Key High Time Frame (HTF) levels on BTC

January weekly demand @ 32000 (blue)
January weekly resistance @ 38000 (purple)
May lost support @ 42000 (red)

Currently testing 38000 (purple)

Scenario 1:
We reject 38k, we go back to test demand @ 32k

Scenario 2:
We reclaim as support, we head towards 42k (red) to test