Over the last few weeks, given the current global events, markets have been quite erratic and volatile, particularly in traditional markets and commodities. Due to the sanctions that many western countries are imposing on Russia, the same sanctions that are sinking the ruble to the lowest prices in over 30 years, many expected Bitcoin Russia use to increase as a way to circumvent these sanctions. Whilst this might be true in principle, Bitcoin price does not seem to have reacted accordingly, and instead, after a brief push to the $43k resistance, it seems to have already retraced and signal further downwards movement.
Bitcoin price today is still signalling uncertainty and a potential lateral move, meaning it could go either way. Over the last few weeks, BTC price has swung both ways, above the current support towards the resistance, as well as below this level, making it hard to predict what move might follow. Bitcoin today seems to have held over the current $38k support level, and slowly diverging towards the 20EMA and the 50EMA. It is also likely that prices will continue to range sideways whilst both Moving averages lower to the current support level.