Current price: 57400
Key point: 52900
Our preferred direction: Buy positions above 52900 levels with 63870 as a first target and then 66655 as a second target.
Alternative scenario: Stop loss and change the trend by breaking the 52900 level, targeting the 49000 levels.
Technical commentary
Bitcoin reached near the pivotal support levels of 52900 and formed a harmonic alt bat pattern with a 113% Fibonacci retracement and returned again within the uptrend line.
If the price can break the 58390 level barrier with the 200 moving average, it will head directly to the 63000-66000 levels.
