📊 BTC analysis for March 20
📅 Daily frame (D)
BTC closed that day with a lower wick but closed below the EMA21, RSI has crossed down the average line and the 50 mark 📉
⏱️ In the 4h frame, we can see that by the end of the day there was a slight recovery but still following the plan that when the price retraces to the 71k zone, there will be selling pressure again and the expected zone remains at the 68k 67k price range.
📊 Structural perspective
If looking at the daily frame, we still need to wait to see if this drop breaks the daily upward structure or not; buyers may still be hoping that this price range will maintain the upward structure for BTC.
➡️ If this range is held in the coming days, the scenario of BTC rising again could still occur, and the answer may come next week.
However, looking at the 3D frame, we can see that yesterday's 3D candle closed as an engulfing candle.
➡️ After the price touched the EMA21, this pattern also signals a bearish sign for BTC 🔻
⚖️ Note
When different frames tell different stories, traders need to be alert in managing capital and setting reasonable expectations.
🎯 Next action
Maintain the old scenario, waiting for the price to reach the 68k zone to catch the long wave in the smaller frame 📈