Current price: 63115
Key point: 62480
Our preferred strategy: Buy positions above 62480 with a first target of 64700 and then a second target of 67400.
Alternative scenario: Stop loss and trend reversal upon breaking the 61300 level, targeting the 57800 level.
Technical commentary
Bitcoin reached a 200-period moving average on the four-hour timeframe and at the support level of 62480 at the broken descending trend line, so it is expected to resume its rise to the 64700 levels, and then if it breaks through that level, it will reach the 67400 levels.
