Current price: 113,000
Key point: 110000
Our preferred strategy: Buy positions above 110,000 with a first target of 117,000 and then a second target of 124,000.
Alternative scenario: Stop loss and trend reversal upon breaking the 107,000 level, targeting the 100,000 level.
Technical commentary
Bitcoin rose from the support levels of 102,000-13,500, breaking through the resistance levels of 109,000. If it breaks through and holds above the 114,000 level and above the 200 moving average on the four-hour timeframe, Bitcoin will then head towards the 117,000 level and then the 124,000 level.
