BTC price analysis, 02.6.2022

BTC-USDT, daily chart

Price action: BTC finally get over EMA 12 passing through 39500k, also the bearish channel seems to be broken bullish with the last huge green candle. Price reversed its trend on daily. At time of writing, now is facing the big resistance at 41500, where also EMA 50 passes: it could be probable that price will retrace to take some bull force from last support at 39500. In this way, confirming another higher low, we could hope to a weekly reversal hitting the 47k level. MACD confirmed the bullish crossing. It is crucial to hold 39500 support for a true bullish start.

RSI indicator: RSI confirmed the price trend and now hit overbought zone, so a little retracement could occur.

Volume analysis: volumes are still poors, apart that pump candle, but it is a good start for the month.

BTC-USDT, weekly chart

To start a bullish reversal on the weekly, price must get over 44-45k consistently: around this level, we have 0.38 Fibonacci, EMAs and a strong resistance. For sure, it will be not easy for BTC to stand up.

Recap: a long position for swing trading could be taken now, or on the retracement to 39500, with stop loss under 35k dollars or 33k for a better stress management.