BTC price analysis, 04.20.2022

BTC-USDT, daily chart

Price action: BTC has been rejected by the resistance trendline of higher lows forming from mid January. Now it is facing the resistance at 42k, where also EMA 50 passes. All in all, there is a bullish channel that keeps BTC from falling. If price goes above 42k consistently (daily reversal), next resistance is 45k and EMA 200. MACD is starting to regain bullish strenght.

RSI indicator: RSI is making higher lows, so there is no divergence from price action.

Volume analysis: volumes keeps to be pretty bullish from one month, and on crucial resistance levels there are big green volume candles.

BTC-USDT, weekly chart

This week must close as an engulfing bullish candle, otherwise could be another bear flag. Anyway, as long as price is major than 37k and below, there is no bear market.