Current price: 42755
Key point: 40,000
Our preferred direction: Buy positions at the highest levels of 40,000, targeting 45,700 as the first target, then 48,390 as the second target.
Alternative scenario: Stop loss and change the trend by breaking the 40,000 level, targeting 35,000 levels
Technical commentary
The price of Bitcoin rose from the beginning of the year’s trading from the levels of 17635-18630, breaching several resistance levels with a 200-day moving average and stability above it, and forming an ascending price channel from the bottom of the year.
The levels of 45700-48390 are considered the next stations for Bitcoin, where the harmonic pattern is expected BAT, and if it can withstand and rise from there, it will head to test its historical peak at the levels of 69000.
