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HomeCrypto NewsMarketPeter Brandt Spots Bearish Chart Pattern On Bitcoin Daily Chart

Peter Brandt Spots Bearish Chart Pattern On Bitcoin Daily Chart

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Brandt has warned crypto traders of a bearish chart pattern forming on the Bitcoin chart.

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Per a tweet from the veteran trader today, Peter Brandt has warned traders of a bearish chart pattern forming on the Bitcoin daily chart.

While Brandt describes it as the “three blind mice” chart pattern, the pattern highlighted is identical to the three black crows chart pattern. Notably, It is a bearish pattern that indicates the reversal of an uptrend. The pattern forms when bears dominate the market for three consecutive trading sessions and is identified by three long-bodied bearish candles.

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Brandt does not specify a price target for the chart pattern should it hold up.

Per a previous report, the veteran analyst believed the digital asset would find a bottom at the $13k price point after a steep drop. However, in a tweet in early November, while not stating an apparent reason, Brandt, asserting that he still expected the price to trend lower, said that a steep price drop “may NOT happen.”

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Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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