Current price: 61310
Key point: 57800
Our preferred strategy: Buy positions above 57800 with a first target of 65600 and then a second target of 70500.
Alternative scenario: Stop loss and trend reversal upon breaking the 56000 level, targeting the 52500 level.
Technical commentary
Bitcoin has risen from levels of 57800, which represent the low of last month. If it breaks through the resistance levels of 62230 and the downtrend line from the peak of last May, the price will then head towards levels of 65600 and then levels of 70500.
