Peter Brandt warns that Bitcoin's recent bounce may mask deeper downtrend
recent price bounce. While he is impressed by the recent jump from $55,000 to $64,000, Brandt points out that the overall trend remains troubling. Despite the hype around the halving and ETFs, the sequence of lower highs and lower lows is still in play.Brandt, a well-known figure in trading with almost 50 years experience on financial markets, shared his latest insights through a price chart.
In the subsequent social media exchange, the trader discussed the possibility of a head and shoulders pattern forming on the cryptocurrency's monthly chart. This pattern, known for signaling potential market reversals, consists of three peaks: a higher peak between two lower peaks .were to develop this pattern, it could indicate that a bearish shift in price direction might be on the horizon.
Could be for sure. This is a real consideration of mine and has been and continues to be. But the burden of proof must first be for daily chart to fall in lineNevertheless, Brandt noted that while this pattern is a real consideration, it has not been confirmed yet. He emphasized that the daily chart needs to show further evidence before people draw any definitive conclusions about the pattern’s validity.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management. He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Legendary Trader Peter Brandt Issues Crucial Bitcoin Warning for BullsPeter Brandt hints at prolonged pain with new Bitcoin price outlook as market sheds $176 billion
Read more »
Legendary Trader Peter Brandt Spots Major Bitcoin (BTC) Buy SignalProminent commodity trader is convinced that leading cryptocurrency going to reach new peak in August 2025
Read more »
Legendary Trader Peter Brandt Highlights Major Bitcoin ProblemVeteran trader noticed tendency that might become issue for trend in future
Read more »
Legendary Bitcoin Trader Peter Brandt Unveils His Trading SecretsLegendary trader Peter Brandt breaks silence on trading no-nos
Read more »
Legendary Bitcoin Trader Peter Brandt Issues Must-Know ETF InsightLegendary trader Peter Brandt reveals truth about ETFs that every investor must know
Read more »
'Minimum Target Is $44,000': Grim Bitcoin Price Prediction Issued by Legendary TraderBitcoin may be headed for $44,000, claims legendary trader Peter Brandt
Read more »