Current price: 83530
Key point: 82630
Our preferred strategy: Buy positions above 82630 with a first target of 84350 and then a second target of 87280.
Alternative scenario: Stop loss and trend reversal upon breaking the 82235 level, targeting the 79800 level.
Technical commentary
Bitcoin managed to break through the downtrend line from last month's high, breaching the resistance levels of 82635 and the 200-period moving average on the four-hour timeframe. The price is expected to continue its upward trend towards 84350, and if this level is broken, it will then target 87280.
