Current price: 27113
Key point: 25220
Our preferred direction: buy positions at the highest levels of 25220, targeting 28520 as the first target, then 30635 as the second target.
Alternative scenario: Stop loss and change the trend by breaking the 25220 level, targeting 24100 levels
Technical commentary
Bitcoin rose on the daily time frame from the support area at the 24102-25220 levels after breaching the falling trend line from last month’s peak and forming a harmonic BA pattern with an 88% Fibonacci retracement of the xa leg.
By staying above the support area, Bitcoin targets the 28520 levels, then the pivotal resistance levels 30635-32332.
