Bitcoin is trading around $78,405 with an upward trend after finding solid support around the 21 SMA at $77,285. Bitcoin is likely to continue rising in the coming days and could reach its high around the psychological level of $80,000; we even expect it to encounter strong resistance around the +2/8 Murray level at $81,250.

Given that Bitcoin has upside potential above $78,125, we will look for opportunities to continue buying, anticipating that it will reach $79,500, the psychological level of $80,000, and finally $81,250.

Conversely, below the +1/8 Murray level, we will look for opportunities to sell. If the price falls below $78,000, we could expect a strong technical correction toward the 8/8 Murray level at $75,000.

Bitcoin has strong support around $75,000. If the price consolidates around this zone, it could once again be considered an opportunity to open long positions.

Only a decisive break below $75,000 would enable a technical correction, and BTC could reach the 61.8% Fibonacci level around $68,750. This level is the target for bears, but the key will be to monitor the critical 8/8 Murray level.

If Bitcoin forms a double top pattern around $79,800, our strategy could be to sell in anticipation of a technical correction toward $75,000.