Stepping back, the cryptocurrency ran into selling pressure near $7,350 on Nov. 24 and fell to six-month lows near $6,500 on the following day. The drop, however, was short-lived and prices quickly rose back to $7,380 before printing a UTC close at $7,159 on Nov. 26. The recovery from $6,500 to $7,159 represents the long lower shadow of the hammer and the spread between $7,350 and $7,159 represents the body.
Bitcoin Is Looking at a Short-Term Bull Reversal if Prices Pass $7,400
