BTC price analysis, 03.21.2023

BTC-USDT, weekly chart

Price action: BTC finally confirmed trend inversion going over the FTX dump candle. First bullflag in January 2023 started the weekly reversal, then confirmed by last one in March. All the EMAs are below actual price, there is plenty of supports. As long as price doesn't break last inverted hammer candle at 19500, trend favours bulls. A safe long position could be taken at 20000 approximately; a riskier take could be on 25k dollars where EMAs are lying, one could split his investment in this two crucial points.

RSI action: the indicator confirms bullish trend with higher highs, but now is facing some resistance: it is reasonable to let price cool down and then take position on the bull flag or in the new range 20k-25k.

Volume analysis: volumes are really strong. Anyway, these gigantic volume candles are caused by the free fees on the reference exchange, that is Binance; on other exchanges volumes confirm bullish trend anyway.

Volume profile indicator confirms the zone where most of the volumes are traded, that is 20k approximately.

BTC-USDT, monthly chart

A clearer vision on the monthly chart: if last candle closes above the last bear flag pulse, that is at 25k, this is a clear bullish reversal sign.