Experienced Analyst Says This Pattern Is Forming In Bitcoin

Bitcoin, which has been exhibiting volatile movements recently, experienced a sudden drop with the claim that the US government was selling BTC. With these claims, BTC, which shot up to the level of $ 26,700, rose again above $ 27,000 after it was understood that this news was not true.

In BTC, which continues its downward and upward movements, investors now want to see $ 30,000 and above again, while experienced analyst Peter Brandt evaluated the price movements of BTC. Sharing on Twitter, Brandt warned investors that a drop in Bitcoin may occur in the near future. Noting that a head and shoulders pattern is formed on BTC’s daily chart, the experienced name said that this situation should be taken seriously.

“A head and shoulders should be taken seriously if it is completed $BTC”

The “head and shoulders” pattern is a technical analysis chart pattern that indicates that the trend in price is about to potentially reverse. If the head-and-shoulder model shared by Peter Brandt occurs, a new decline scenario may occur in BTC. Time will tell whether a head-and-shoulder pattern will occur in Bitcoin.

Bitcoin/USDT parity is trading at $26,612.00 with a -3.15% change in the last 24 hours as of the news hour.