Current price: 63830
Key point: 62500
Our preferred strategy: Buy positions above 62,500 with a first target of 65,400 and then a second target of 67,000.
Alternative scenario: Stop loss and trend reversal upon breaking the 62000 level, targeting the 61000 level.
Technical commentary
Bitcoin managed to rise from the pivotal support level of 62500, and if it breaks through the resistance level of 64000 with the 200 moving average on the four-hour timeframe, the price will then head towards the 65400 level, and then if it breaks through that, the price will head towards the 67000 level.
