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Savvy Trader Peter Brandt Offers to Let Users Guess Pattern on Bitcoin Chart, Here`s What It Is

Seasoned commodity trader Peter Brandt has spotted a pattern forming on the Bitcoin chart and wants the community to take a guess as to what it is

Savvy Trader Peter Brandt Offers to Let Users Guess Pattern on Bitcoin Chart, Here`s What It Is

Old school commodity trader Peter Brandt, who has been trading since the 1970s, has taken to Twitter to share a screenshot of a Bitcoin pattern he has spotted forming on the chart.

He has offered the community the chance to guess the name of this pattern. It looks like Brandt expects Bitcoin to move further down soon.

Is bearish pattern forming?
The majority of the commenters were unable to give the correct answer to the trader's riddle. One of them, Twitter user Mind Trader, however, suggested that it is a Bear Flag.

Flags usually suggest that the currently observed trend is going to continue even though it is broken on the chart for a short time. It then reverses in the opposite direction as in the case of the bearish flag on Brandt’s Bitcoin graph.

Bitcoin loses $46,000 mark
Bitcoin has been plunging for the second consecutive day, dropping from the $46,000 zone. At press time, the flagship crypto is sitting at $44,522 as per data provided by CoinMarketCap.

 

Source: u.today