Peter Brandt, A famous Crypto Trader Showed An Important Crypto Chart Pattern That Might Be The Next Movement For Bitcoin
A well-known crypto addict and one of the most famous in the financial industry, Peter Brandt, has displayed on his Twitter page for his subscriber to see the chart patterns on Bitcoin that may probably be a pointer to the next movement of the coin.
From the tweet, he sounded ironic, as he mentioned that if the chart displayed looks like a pennant and like a pennant then it is a pennant BTC. Uninterestingly, in Bitcoin’s case, some other pennant can be a pointer to the upcoming hit in a few days or weeks.
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Fortunately for Bitcoin, the pennant is not a direct indication of an upcoming plunge even for any kind of asset. The chart can aid traders to factorize if the market will see an increase in volatility, which is the expected case for Bitcoin having been displaying low volatility for the past few weeks.
Deducing from the chart, Bitcoin had already painted two different patterns initially that represented an upcoming spike in volatility. Unfortunately, it was a downward spike that pushed the price of Bitcoin below $20,000.
Investors Are Buying The Dip
But despite all these bad market conditions, both small and big investors continually still have an interest in Bitcoin. For instance, the addresses that hold 1 BTC or more despite the market condition are on the increase.
A few days ago, as reported by Cryptolifedigital, The time Nayib Bukele, the president of the country, announced that they acquired 80 BTC, the MicroStrategy CEO, Michael Saylor also brought it to notice that they also bought 480 BTC for close to $10, 000,000. MicroStrategy is presently the largest bitcoin holder in the world.
Cryptolifedigital is a cryptocurrency blogger and analyst known for providing insightful analysis and commentary on the ever-changing digital currency landscape. With a keen eye for market trends and a deep understanding of blockchain technology, Cryptolifedigital helps readers navigate the complexities of the crypto world, making informed investment decisions. Whether you’re a seasoned investor or just starting out, Cryptolifedigital’s analysis offers valuable insights into the world of cryptocurrency.
