Current price: 60550
Key point: 60000
Our preferred strategy: Buy positions above 60,000 with a first target of 62,000 and then a second target of 64,500.
Alternative scenario: Stop loss and trend reversal upon breaking the 58000 level, targeting the 55000 level.
Technical commentary
Bitcoin reached key support levels at $60,000, coinciding with the ascending trendline. A rise to $62,000 and then $64,000 is anticipated. However, upon reaching these levels, a reversal in price is expected due to the presence of a descending trendline from the May peak and the 200-period moving average on the four-hour timeframe.
