September 26, 2022

Technical analyst called resistance level for bitcoin price

On the 3-day chart of bitcoin, the “hammer” pattern has formed, which testifies in favor of the bull U-turn in the short term, but the price needs to gain a foothold over $ 7,380, analyst Omkar Godbowle said.

In his opinion, only under the condition of successfully overcoming this mark, a rally to $ 8000 is possible. If the price fixes below $ 6515, we should expect a further fall, he added.

Godbowle demonstrated a positive scenario on the 4-hour chart, where the “inverted head and shoulders” pattern was formed. The 14-day RSI indicates oversold.

Technical analyst called resistance level for bitcoin price

CoinDesk Markets Data

The growth analyst with a favorable alignment of forces called the tech analyst $ 8,245.

Earlier today, the price dipped amid news of the Upbit hack, but then quickly recovered. Over the past three hours, growth has been observed.