Bitcoin Just Formed Rare Megaphone Pattern, Says Veteran Trader Peter Bandt – Here’s What It Means
March 17, 2023 9735 by adminJohn Brandt, a prominent analyst and password trader, shows that Bitcoin is currently printing a structure that is rarely seen in all sales markets.
Brandt, who won legendary credibility in the cryptographic industry after confirming the paralysis of BTC in 2017, points out that BTC is now showing a rare flip.
->"this is called a loudspeaker or an inverted symmetrical triangle."
The shape of the loudspeaker, also known as broadening the lineup, is a rising technical structure that usually occurs after a large sinking. Traditionally, the property broke through after trying to break through diagonal friction for the third time.
Looking at Brandt's data chart, Bitcoin seems to have touched the opposite corner twice so far, indicating that the double head of Bitcoin needs to be pushed at least once before the King's password can break through the layout.
Yesterday, Bitcoin rose to a peak of $26507 in 2023 under the influence of a large-scale short sheet squeeze, causing a settlement of $320 million as traders betting that Bitcoin would fall scrambled to cover the gap.
Since then, Bitcoin has declined, and at the time of this writing, Bitcoin traded at $24796.
Brandt says this kind of adjustment shows that the loudspeaker structure has been fully utilized.
"it is not surprising that tens of thousands of people turned down the deposit."
After the latest changes released by BTC, Micha ë l van de Poppe, also a password analyst, indicated that BTC may be looking for support in the total demand of $23300.
"I prefer Bitcoin to continue to rise to $27000 to $28000.
I am not interested in buying this reexamination for postgraduate entrance examination for 25000 dollars.
I hope to open more bitcoins at the price of $23300.
