Bitcoin (BTC) and cryptocurrency Popular analyst Peter Brandt, who is known for his shares on the market, has recently exceeded $ 26,000. bitcoin He made a new post about
He is also an expert on market and technical formations and has written many books on these subjects. Peter Brandt, He pointed out that a new formation has formed in BTC.
in bitcoin inverted symmetrical triangle or megaphone formationStating that this formation is formed, the analyst BTC or that it is rare in any market.
Brandt, who shared the Bitcoin chart; “This is called a megaphone or an inverted symmetrical triangle” made the statement.
This is called a megaphone or inverted symmetric triangle pic.twitter.com/pCsVUOt8OG
— Peter Brandt (@PeterLBrandt) March 14, 2023
The “Megafon Pattern”, also called an inverted symmetrical triangle, usually means that the market is highly volatile and traders are unsure of the direction of the market.
Megafon formation is also known as an expanding formation due to the way it is formed.
In the asset where this formation is seen, high volatility and large movements with unclear direction are seen.
Accordingly, the famous analyst thinks that Bitcoin will continue to move between the trend lines in this formation.
According to this pattern, BTC needs to break the upper trendline to the upside to continue its upward move.
*Not investment advice.
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