The general price range 28k-39k should satisfy the needs of both the "buy the dip" and "conservative" trader. This zone (I believe) allows for multiple entry point to an overall Bullish trend, with a price target of 100k per BTC. I recommend looking at my publicly posted idea (on the 1-day chart) to view my "reasonable" outlook for a price target of 100 thousand. Assuming price stays "steady" and does not drop below 30k-28k, I would assume the following scenario would apply:
Orange zone: Larger descending channel.
green bars: bars-pattern copied from Jun 15th , to the current date 07-16-2021.
red line: assumed price movement.
Conclusion:
Price would continue to move higher, and could see price rebound from lows by 07-19-2021 to a price range of 31k to a high of 35k. If Price drops below 28k, I would assume an overall Bearish trend would resume, and possibly hit lows around 27k-25k at the lowest in an attempt to find support.
*additional notes: overall price has been trending down for some time, most evident on the daily scale. Chinese miners are presumably relocating their mining operations to more "permanent" situation, which would increase the overall growth of the Bitcoin ecosystem. Price is currently below the exponential moving average.
Orange zone: Larger descending channel.
green bars: bars-pattern copied from Jun 15th , to the current date 07-16-2021.
red line: assumed price movement.
Conclusion:
Price would continue to move higher, and could see price rebound from lows by 07-19-2021 to a price range of 31k to a high of 35k. If Price drops below 28k, I would assume an overall Bearish trend would resume, and possibly hit lows around 27k-25k at the lowest in an attempt to find support.
*additional notes: overall price has been trending down for some time, most evident on the daily scale. Chinese miners are presumably relocating their mining operations to more "permanent" situation, which would increase the overall growth of the Bitcoin ecosystem. Price is currently below the exponential moving average.