Current price: 86360
Key point: 82300
Our preferred strategy: Buy positions above 82300 with a first target of 91175 and then a second target of 94800.
Alternative scenario: Stop loss and trend reversal upon breaking the 80200 level, targeting levels of 76265
Technical commentary
Bitcoin climbed above the pivotal support level of 82300, above the upward trend line from the low of last August, and above the 200-period moving average on the daily timeframe.
If the pivotal resistance level of 87280 is breached, the price will then head towards the 91175 level, and if it breaks through that level, it will head towards the 94800 level.
