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HarryPotterObamaSonic10Inu Price Prediction: Will BITCOIN Surpass Its Previous High?

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HarryPotterObamaSonic10Inu (BITCOIN) price has recorded massive volatility over the past few weeks. The price action is characterized by wave-like motion, where equal and opposite corrections or pullbacks counter recovery rallies.

From a technical perspective, the Relative Strength Index (RSI) shows a potential move south as it tips to the downside. This outlook is corroborated by the MA cross, where the higher MA (26 MA) has crossed the lower MA (9 MA) to the upside. Tracking back, every time this happened, HarryPotterObamaSonic10Inu reacted with a slump. As such, BITCOIN may be due for a fall, likely sending the altcoin 25% south to the $0.04804 support floor.

The position of the RSI under the 50 level and the unfavorable position of the Moving Average Convergence Divergence (MACD) add credence to the bearish outlook. It is also worth noting that the volume of trades has been dwindling, as indicated by the reduced volumes of the histograms.

BITCOIN/USD 4-hour chart

Conversely, from a big picture, HarryPotterObamaSonic10Inu is displaying a recovery rally, which could translate to a move north if sustained. The magnetic pull due to the liquidity resting above the $0.07344 level and above $0.07980 could see BITCOIN rise, potentially completing the forecasted 34% climb and surpassing its previous high of $0.08345.

Analyst Identifies An Inverse Head and Shoulder Pattern

One analyst has identified an inverse head and shoulder pattern in the four-hour timeframe. This technical formation is a trend reversal pattern, indicating that the asset will move from a downward to an upward trend. It is considered bullish, reflecting a positive short-term price movement outlook.

The analyst observes that HarryPotterObamaSonic10Inu is “just completing the second shoulder of its inverse head and shoulders bottom pattern. This means a move north may be around the corner. With this, they suggest that now could be the time to buy HarryPotterObamaSonic10Inu to avoid missing out on the rally.

At the same time, another analyst anticipates HarryPotterObamaSonic10Inu hitting the $0.42 target by the end of the year. Such a move would constitute a 560% climb.

Noteworthy, conducting your research is always the way to go, with expert analysis and predictions only giving you another perspective. This way, you can make investment decisions from an informed point of view.

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