Current price: 64100
Key point: 63900
Our preferred strategy: Buy positions above 63900 with a first target of 65400 and then a second target of 67000.
Alternative scenario: Stop loss and trend reversal upon breaking the 63700 level, targeting the 62400 level.
Technical commentary
Bitcoin reached a 200-period moving average on the four-hour timeframe, with support levels at 63900. A rebound to 65400 is expected, and then, if it breaks through, to 67000.
However, if the 63700 level is broken downwards, the price will likely fall to the 62400 level.
