Bitcoin's price is currently maintaining its upward trend. It recently surged above the $36,800 resistance, gaining momentum to breach the $37,000 resistance barrier and enter a positive trajectory.

The price even rallied to nearly $38,000 before experiencing a minor correction down to $35,850. In a more recent development, the price once again rose above the $37,250 level, but encountered resistance around $37,500, resulting in a high point at this level. Presently, the price is consolidating its gains.

Subsequently, there was a slight dip below the $37,250 mark, leading to a test of the 50% Fibonacci retracement level from the low at $35,891 to the high at $37,500. Bitcoin is currently trading around $37,000, closely aligned with the 100-hourly Simple Moving Average. On the upside, immediate resistance lies at approximately $37,200, and a short-term declining channel is forming with resistance near $37,250 on the hourly BTC/USD chart.

The next notable resistance level may emerge around $37,500, beyond which the price could experience further upward momentum, potentially testing the $38,000 level. If the bullish trend continues, Bitcoin may even reach the $38,800 level.

However, if Bitcoin fails to breach the $37,250 resistance zone, it could face a downside trajectory. Initial support is around the $36,700 level, followed by a more significant support area near $36,500 or the 61.8% Fibonacci retracement level from the low at $35,891 to the high at $37,500. Should the price dip below $36,500, there is a heightened risk of further declines, potentially leading to a near-term key support level at $36,000.

Technical indicators show that the hourly MACD is losing its bullish momentum, and the hourly RSI (Relative Strength Index) for BTC/USD has fallen below the 50 level.

Key support levels to watch include $36,700 and $36,500, while notable resistance levels are $37,250, $37,500, and $38,000.