Trader Peter Brandt: BTC is forming a head and shoulders top pattern
ChainCatcher news, veteran trader Peter Brandt posted on X stating that the BTC market chart has formed a classic H&S (Head and Shoulders) top pattern. The BTC H&S pattern may develop in three directions:
Complete and tend towards the target level
Fail due to bear market trap
Morph into a larger pattern
He later added: "I'm just pointing out patterns that seem to be forming. They usually morph or fail, sometimes they work. My win rate is slightly above 50%, so this indicates many of the patterns I trade do not work out. For me, chart patterns are just like this, not opinions nor positions."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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