Bitcoin Analysis 06/26/2021
Updated
Bitcoin Analysis 06/26/2021:
It appears as if we are seeing a slight bounce in price to the upside.
I have here drawn in yellow some downtrend lines.
The lower two have been confirmed as trendlines with 3 touches. I am expecting to see the upper trendline that has not been confirmed get hit next. That will happen roughly around ~33.5k, give or take.
If that trendline is not valid, or is valid and broken, then I expect price to rise up to the 200EMA level.
Lets see how this plays out!
KPRCrypto
It appears as if we are seeing a slight bounce in price to the upside.
I have here drawn in yellow some downtrend lines.
The lower two have been confirmed as trendlines with 3 touches. I am expecting to see the upper trendline that has not been confirmed get hit next. That will happen roughly around ~33.5k, give or take.
If that trendline is not valid, or is valid and broken, then I expect price to rise up to the 200EMA level.
Lets see how this plays out!
KPRCrypto
Note
BTC has made it to the upper trendline I have drawn. It is still too early to tell exactly the price may take us.For a continuation to the upside, I would like to see the trendline be broken to the upside and also price to stay above the 8EMA.
If the price is rejected at this level, I would like to see a retest of the middle trendline I have drawn. Being perhaps around the first VPVR level labeled.
I will update as I see this idea valid! -6/27/21
Note
Price has broken out of the upper trendline! I do expect that price will retest that trendline.If it does retest and bounces to the upside, I expect to test the 200EMA price range.
If It falls below, I would like to see a retest of the middle trendline I have drawn. -6/27/21
Note
Note
This chart is getting pretty marked up by now!I have drawn some new trendlines where I like to see price retrace (labeled with pink callout). If they do retrace there and bounce upwards, I do expect price to still rise to roughly the 200EMA 4 hour.
If price falls below those levels, I believe my original down trendlines drawn on this idea will come back into play.
-Solid yellow trendlines were drawn on the 4 hour timeframe. The bottom of that wedge does need to be touched again to confirm as a valid trendline.
-Dashed yellow trendlines were drawn on the 4 hour timeframe (original idea, not sure if will come back into play.)
-Dotted yellow lines were drawn on the 15 minute timeframe.
Note
Still using this same chart - I have cleaned it up a bit.
Most expected supports and resistances have been hit up to here. I have a down trendline (yellow dashed) that I have drawn a few days prior, it has not been confirmed yet.
If price confirms that trendline and breaks above that line, I expect a retest of the 200EMA 4 hour timeframe.
If price confirms that trendline and breaks down, or does not make it, I expect to test the up trendline I have drawn that is not yet confirmed (yellow dashed).
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