Current price: 77900
Key point: 76265
Our preferred strategy: Sell positions below 76265 with a first target of 80000 and then a second target of 82300.
Alternative scenario: Stop loss and trend reversal upon breaking the 75545 level, targeting the 74540 level.
Technical commentary
Bitcoin is holding above the pivotal support levels of 75545-76265 and above the 200 moving average on the four-hour timeframe. If it breaks through the resistance levels of 78270, the price is expected to head towards the 80000 levels, and then, if it breaks through those levels, towards the 81500-82300 levels.
