Current price: 82820
Key point: 80125
Our preferred strategy: Buy positions above 80125 with a first target of 84350 and then a second target of 87280.
Alternative scenario: Stop loss and trend reversal upon breaking the 79570 level, targeting the 76260 level.
Technical commentary
Bitcoin is holding above the key support level of 80125 and the price is attempting to break through the 200-period moving average on the four-hour timeframe. If this happens, a further upward move to 84350 is expected, and then, if it breaks through that level, it will target 87280.
