Given the general market uncertainty over the last two weeks, there were still unanswered questions BitcoinPrice history.
Below the Federal Reserve’s forecasts Due to smaller than previously expected rate cuts in 2025, the asset has fallen from highs above the $106,000 price point to lows around the $92,000 price point, raising questions among some about the continuation of its upward trend.
Recently, a prominent market analyst suggested that despite the growing uncertainty, Bitcoin could replicate a pattern often seen during parabolic runs, while also noting that a deeper correction may be necessary before a rally to new highs.
“Hump Slump Bump Dump Pump”
According to veteran trader Peter Brandt, Bitcoin could currently be repeating its “hump-slump-bump-dump-pump” pattern.
The Hump-Slump-Bump-Dump-Pump pattern is a unique bullish continuation pattern that Brandt has continually highlighted on the Bitcoin chart. The pattern shows the asset’s price rising slightly, but then correcting sharply and then rising slightly again before falling to around the low of the initial hump or below and then rising to new highs.
Brandt seems to do it observed the pattern for the first time in the Bitcoin bull run of 2017. Of course, he came up with the bizarre name for this pattern himself.
According to a daily Bitcoin candlestick chart shared on Sunday, December 29thThe veteran commodity trader suggested that the target for the current pattern could be above the $110,000 price point. However, according to the analyst, something may have to happen first.
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