Current price: 97000
Key point: 95000
Our preferred strategy: Buy positions above 95,000 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 90,000 level, targeting the 80,000 level.
Technical commentary
Bitcoin is moving upwards from its December lows after breaking through the downtrend line from last August's high and after breaking through the pivotal resistance levels of 93000-95000.
Bitcoin is expected to continue its upward trend to the $100,000-$110,000 levels.
