BTC price analysis, 03.20.2022

BTC-USDT, daily chart

Price action: BTC price is still compressing into a triangle from the last bigger dump occured in January. Resistance at 42k is still holding, and the 45k one is stronger. Support at 37k is where a lot of engulfing bullish candles started, but stronger rebounds occured on 33k and 35k (where are candles with big shadows). EMA 7 and 50 have been surpassed with the little uptrend of this week, but there seems not to be volume confirmation. MACD is still weak to see some signs of bullish force.

RSI indicator: RSI is following the price action, making higher lows and lower highs: before taking position, I'd wait to see a retracement on the green trendline because of the strong resistances to face in this uptrend.

Volume analysis: apart from the big green candle of some days ago, volumes are not strong enough to break through resistances: another bullish candle above the median is required.

BTC-USDT, weekly chart

Last candle is very good to see, but seems not to close above 42k where is resistance and where lyies EMA 50, plus volume candle is not so strong as one could expect. This equilibrium could continue until the end of March, and maybe a catch of bulls on lower levels on 35k or on the channel trendline could occur as well (hopefully a candle with big rejection shadow).