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.
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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.
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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.
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.
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