Veteran trader Peter Brandt warns investors, saying Bitcoin (BTC) is showing a big bull flag.
In a new thread on the social media platform
“This is a head and shoulders top pattern. It could be finished and raise the price to $78,000; It could fail with a boost order, or it could turn into something else. But as it stands now, it’s a head-and-shoulders top and needs to be treated for what it is.”
Brandt further points out that the crypto king could form a similar pattern to years ago before eventually reaching new highs.
“If you are a Bitcoiner, take a look at this post from a few years ago. It describes the famous “Hump Slump Bump Dump Pump” chart construction in BTC. The same thing could happen now.”
Concluding his analysis, Brandt says that those who view digital assets like BTC and the smart contact platform Solana (SOL) as a means of achieving economic justice…
