​The fact that this year’s downtrend line at $71,454 has been breached is another technically positive sign.

​What is needed now for a medium-term bullish reversal to gain traction is a rise and daily chart close above Wednesday’s $74,071.02 high. If this were to happen, the March 2024 peak at $73,757.39 and the October 2024 high at $73,581.22 would be overcome and the way would open up for the 55-day simple moving average (SMA) at $77,456.43, the 1 to 3 February highs at $79,160.49 – $79,369.55 and the November 2025 low at $80,619.71 to be reached.

​If exceeded, the December lows at $83,871.20 – $84,445.35 may be reached as well.

​Upside pressure is expected to retain the upper hand while the late February lows at…