Experienced trader and analyst Peter Brandt pointed out the formation in Bitcoin (BTC), suggesting that the decline may deepen.
Peter Brandt posted on his official social media account on May 24. in the shipmentformed on the daily Bitcoin chart short term bearish pattern stressed. Analyst, to the completion according to flag or streamer formation that he suggested might be approval in case of over 15% hinted at a possible decline. Brandt made the following statements on the subject:
This is known as a pennant or flag and has short term bearish effects unless rejected above the highs of the midpoint.
Analyst, which coincides with the upper part of the pattern and averages $27,500 While implying that if the resistance corresponding to the band is not broken strongly, the price will want to move down. Under $26,600 with one more day closing a deep fall proved to be triggered.
Brandt your formation short term has an effect expressed Although in the past few weeks bitcoin a daily chart shoulder head shoulder (OBO) by pointing to the formation of the price 23 thousand dollars to their level that you might fall had stated.
According to Coinecko data, the latest 30 days in 4.6% Bitcoin losing value, last 24 hours in 3.5% declining as of writing 26,340 traded at the dollar level.
Brandt in another post on May 22, on the price of Bitcoin. there may be a decrease but this is more strong pre-bullish correction had claimed to be.
