Level to watch for a pullback

Bitcoin has now been rejected near the top of its 2-month trading range with price now trading back under the daily 100 SMA. There is strong support from the yearly R1 @ 37500 but a pullback to the 50% Fibonacci level @ 36000 is also very likely. From this level price is expected to move back towards the top of the range @ 41000 pending a possible breakout to 45-46k