Veteran Trader Peter Brandt Issues Bitcoin Alert, Warns BTC Is Flashing Bearish Signal – Here Are His Targets
Seasoned dealer Peter Brandt is issuing a warning to traders, saying that Bitcoin (BTC) is flashing a significant bull flag.
In a brand new thread on the social media platform X, Brandt tells his 766,000 followers that the highest crypto asset by market cap is forming a head-and-shoulders high sample, indicating that it might crash all the best way again down beneath $80,000.
“This can be a head and shoulders high sample. It would full and take worth to $78,000; it would fail with a thrust rent: or, it would morph into one thing else. However because it stands proper now, it’s a head and shoulders high and have to be handled for what it’s.”
Brandt goes on to notice that the crypto king may very well be forming an analogous sample it did years in the past earlier than it finally hits new heights.
“If you’re a Bitcoiner, check out this put up from a number of years in the past. It describes the well-known Hump Stoop Bump Dump Pump chart development in BTC. Identical factor may very well be taking place now.”
Concluding his evaluation, Brandt says that these digital belongings corresponding to BTC and good contact platform Solana (SOL) as a way to attain financial justice are in for disappointment.
“Editorial remark – you might agree or disagree Many in M and Z generations view crypto (BTC, SOL, others) as one thing that can deliver them financial justice and can make all issues proper within the universe. Those that suppose this fashion are in for a large disappointment. Sorry!”
Bitcoin is buying and selling for $94,190 at time of writing, a 1.4% lower over the last 24 hours.
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