Current price: 64335
Key point: 62500
Our preferred strategy: Buy positions above 62,500 with a first target of 67,300 and then a second target of 70,500.
Alternative scenario: Stop loss and trend reversal upon breaking the 61300 level, targeting the 57800 level.
Technical commentary
Bitcoin is consolidating above an ascending trendline from the current month's low, above the 200-period moving average on the four-hour timeframe, and above the 62,500 support level, while retesting the broken trendline.
If the resistance levels of 64500-65600 are broken, Bitcoin will then head towards the 67300 levels and then the 70500 levels.
