Current price: 68000
Key point: 65000
Our preferred strategy: Buy positions above 65,000 with a first target of 72,000 and then a second target of 80,000.
Alternative scenario: Stop loss and trend reversal upon breaking the 64000 level, targeting the 60000 level.
Technical commentary
Bitcoin continues its sharp decline that began in the middle of last month from levels of 100,000, reaching levels of 60,000 by the end of last week's trading, and then rose to levels of 72,000.
Currently, the price is above the support levels of 65000-67000. If the downward trend line shown is broken, the price will reach the levels of 72000 and then the levels of 80000.
If the 65,000 level is broken, Bitcoin will likely head back towards the 60,000 level.
