Current price: 70300
Key point: 7000
Our preferred strategy: Buy positions above 7000 with a first target of 76000 and then a second target of 81000.
Alternative scenario: Stop loss and trend reversal upon breaking the 68000 level, targeting the 65000 level.
Technical commentary
Bitcoin's price reached the 70,000 level again after this week's rise, reaching the upward trend line from last month's low and above the 200 moving average on the four-hour timeframe. Bitcoin is expected to resume its rise to the 76,000 level and then the 81,000 level.
