Charting BTCUSDT price movement @ 1 HR Time frame

This chart shows the support and resistance areas calculated based on wave theory. It will attempt to predict the movement of the price across the support and resistance area in a 1-hr chart. Based on this chart, price will retrace back to 37,490 after touching the 38k level. But if the price breaks through the 38k, a new support will be formed.
I am considering the buy signal to be at the 37,200 level with stop-loss of 5%.