Bitcoin Double Bottom Pattern Came into Play

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FenzoFx—Bitcoin jumped upward from $74,475 support as expected due to the formation of a double bottom pattern on the 1-hour chart, which is a bullish signal.

As of this writing, the price is stabilizing and testing the $81,160 mark as support. However, the 50-SMA on the 1-hour chart serves as the pivot point between the bull and bear market.

The next bullish target could be $84,730, followed by $88,000 if BTC holds above the discussed moving average.


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