Current price: 34890
Key point: 32320
Our preferred direction: buy positions at the highest levels of 32,320, targeting 37,000 as the first target, then 45,000 as the second target.
Alternative scenario: Stop loss and change the trend by breaking the 32320 level, targeting 30000 levels
Technical commentary
Bitcoin rose strongly during the trading of the past two weeks after penetrating the symmetrical triangle and the rising price channel from the bottom of last January and above the support levels 24100-25220, then it penetrated the pivotal resistance levels 31486-32322.
It will be expected that the rise to the upper limit of the ascending price channel will continue at 37000 levels, then some downward correction, and then the rise of the proactive harmonic bAT pattern will be completed with an 88% Fibonacci correction rate at 45000 levels.
