Current price: 78700
Key point: 77000
Our preferred strategy: Buy positions above 77,000 with a first target of 80,000 and then a second target of 86,000.
Alternative scenario: Stop loss and trend reversal upon breaking the 73500 level, targeting the 70000 level.
Technical commentary
Bitcoin is stabilizing above the support level of 78,000 and above the 200 moving average on the four-hour timeframe, so it is expected to continue its upward trend to the 80,000 level and then the 86,000 level.
