Current price: 62000
Key point: 62500
Our preferred strategy: Sell positions below 62,500 with a first target of 60,000 and then a second target of 57,000.
Alternative scenario: Stop loss and trend reversal upon breaking the 64000 level, targeting the 69000 level.
Technical commentary
Bitcoin has collapsed and fallen sharply since the beginning of last month, breaking several support levels. Currently, it has broken the support levels of 65,000 and then the levels of 62,500, so it is expected that the price will continue to fall to reach the low of last February at the levels of 60,000, and then if it breaks that level, it will head towards the levels of 57,000.
