Current price: 64390
Key point: 61000
Our preferred direction: Buy positions above 61000 levels with 69000 as a first target and then 73000 as a second target.
Alternative scenario: Stop loss and change the trend by breaking the 59,000 level, targeting the 53,000 levels.
Technical commentary
After the strong decline of Bitcoin during the past three days by about 13%, the price of Bitcoin reached the pivotal support levels in the 59000-61000 area near the rising trend line from the bottom of last January, so it is expected to rise again to the 69000 levels and then the 73000 levels.
