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Bitcoin Price Seesaws Around $64,000 Amid Short-Term Rally Predictions

Guavy AI Editorial Team
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BTC
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Aksel Kibar, a former fund manager, believes Bitcoin's price could be heading towards $67,000 in the near term. According to him, the cryptocurrency has possibly bottomed out after hitting a low of approximately $58,570 reached earlier last month.

Kibar pointed out that BTC price is forming an inverse head-and-shoulders (H&S) pattern with a neckline around $67,200. This could potentially lead to a rally in August.

The expert also noted that Bitcoin's price has not formed a bearish flag like the one that triggered the February and June capitulations.

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