Will BTC reach the 50K mark?

The news about Elon's big purchase of bitcoin made the BTC price rise sharply, but will it continue to go up and reach the 50K mark? Based on this analysis, the price will go down a bit to touch the support line at 37,700 level, and it will range between the 37K and 38K level in the time being, unless another big news will happen that may affect the price as well.