Current price: 78600
Key point: 76800
Our preferred strategy: Buy positions above 76,800 with a first target of 81,500 and then a second target of 84,500.
Alternative scenario: Stop loss and trend reversal upon breaking the 75550 level, targeting the 72500 level.
Technical commentary
Bitcoin is still in an upward trend and stable above the pivotal support levels of 75550-76800 and above the 200 moving average on the four-hour timeframe. If it breaks through the resistance levels of 79400, it will head towards the levels of 81500 and then the levels of 84500.
