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⛓️ Crypto🟢 BullishImportance 6/10Actionable
Bitcoin Eyes MId-$80,000s As Peter Brandt Flags ‘Horn’ Pattern
🤖AI Summary
Veteran trader Peter Brandt identified a 'horn' pattern in Bitcoin's chart, suggesting the cryptocurrency could reach the mid-$80,000s range. The pattern, derived from classical 1934 technical analysis, indicates potential widening volatility as BTC trades around $73,186.
Key Takeaways
- →Peter Brandt spotted a 'horn' pattern in Bitcoin's daily chart, referencing classical technical analysis from Richard Schabacker's 1934 work.
- →The pattern suggests Bitcoin could target the $83,000-$88,000 range in early April if it continues tracking the upper boundary.
- →Brandt remained flexible on pattern interpretation, acknowledging it could be either a horn or flag formation.
- →A horn pattern typically indicates widening swings and less controlled price advances compared to traditional continuation flags.
- →Bitcoin is currently trading at $73,186 after rebounding from February lows in the $60,000s.
Read Original →via NewsBTC
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