Current price: 78500
Key point: 76000
Our preferred strategy: Buy positions above 76,000 with a first target of 82,000 and then a second target of 84,400.
Alternative scenario: Stop loss and trend reversal upon breaking the 74300 level, targeting the 70500 level.
Technical commentary
Bitcoin rose significantly during the end of last week's trading, breaking through several resistance levels from 70,000 through 76,000. Currently, Bitcoin is stabilizing above these levels, and it is expected that if it breaks through the pivotal resistance levels of 78,600-79,500, the price will head towards 82,000, and then, if it breaks through these, towards 84,400.
