Veteran trader and analyst Peter Brandt drew attention to the similarity of the current Bitcoin (BTC) chart with 2019.
Peter Brandt, January which has been in the ascending triangle structure since bitcoin‘of, at $45,000 crossing the resistance level found $47,000 after rising to March 28 In his post on Twitter, Current chart of bitcoin and A graph of 2019 by sharing to the similarity between drew attention.
in sharing bitcointhe current structure of ascending triangle pattern stating that Brandtto learn more about ascending triangle formations to its followers Have them read “Study III” on page 93 of Schabacker’s book. and Comparisons of Bitcoin’s current model with the 2019 chart it shared. suggested.
bitcoin, 2019 after breaking out to the upside in the ascending triangle formation 20% appreciated and an ascending channel structure had entered. bitcoin then in this channel structure a second breakout by living $8,000 had risen to levels.
experienced analyst also followers Although there are similar historical movements in the Bitcoin chart, the charts will not predict the future. warned against.
Graphs do not predict the future. Charts don’t even offer possibilities. Charts suggest probabilities and are helpful in managing trading risks. Formations can run, fail, or transform. If laser eye memes reappear and Bitcoin bust ends, be careful.
CoinGecko according to data in the last 24 hours 5.3% by gaining value $47,172 rising up Bitcoin (BTC)at the time of writing Consolidated at $47,000 levels is happening.
