Bearish BTC- following downward channel

Since April High of 65k the price decended to 47k and was able to reach to 60k again in May from the low. Low volume and declining RSI and the downward channel working perfectly together aiming to test the 38k area. However, we have had a bounce from the 42k level as a support (January High) and has been holding for couple of days. On the daily, the RSI is getting to oversold. We might see a push up to retest the 45k to 50k area, if it fails to go past above then 38k will be waiting next.