BTC price analysis, 04.03.2022

BTC-USDT, daily chart

Price action: BTC price broke bullish the ascending triangle from the last bigger dump occured in January. Now it is above the first bigger resistance at 45k, where also passes EMA 200. A new compression shape is forming between 42k (where also passes EMA 50) and 49k before another break could occur. This pump seems not to be a false breakout and it is confirmed also by MACD. A long position could be taken on the retracement to 42k.

RSI indicator: RSI doesn't show divergences from the price action, but is tendentially hypersold, so it could be advisable to hold position until a new retracement.

Volume analysis: volumes are bullish from 2 weeks, so there is no divergence from the price also for this indicator.

BTC-USDT, weekly chart

Price get past the EMA 50 also on the weekly (42k). Last candle could be a bullish flag start, so it is a good move to take position on 42k.