Current price: 93000
Key point: 90000
Our preferred strategy: Buy positions above 90,000 with a first target of 100,000 and then a second target of 110,000.
Alternative scenario: Stop loss and trend reversal upon breaking the 85,000 level, targeting the 75,000 level.
Technical commentary
Bitcoin managed to rise from the pivotal support level of 80600 while breaking through the resistance level of 90000
The price is currently facing three key resistance levels: the 93,000 level, the downtrend line from the October peak, and the 200-period moving average on the four-hour timeframe.
If these levels are breached, Bitcoin will then head towards the 100,000 level and then the 110,000 level.
