Current price: 57550
Key point: 61000
Our preferred direction: Sell positions below 61000 levels with 53000 as a first target and then 48000 as a second target.
Alternative scenario: Stop loss and change the trend by breaking the 61000 level, targeting the 69000 levels.
Technical commentary
Bitcoin fell heavily yesterday and so far by about 10%. It is currently stable at the lower limit of the descending price channel below the support levels of 61000-59000
If the price can stabilize and rise again to the top of these levels, it will then head towards the 69000-73000 levels.
If it remains below the mentioned levels, it will continue to decline until it reaches 53,000 levels.
