In a tweet yesterday, Veteran trader Peter Brandt shared a bullish outlook on Bitcoin in response to recent price action. While Brandt cautions that no one knows what the market will do, and this is his “dunce-hat” prediction, the analyst sharing his weekly and monthly chart indicates that Bitcoin is potentially forming an inverted head and shoulders chart pattern. In the short term, the veteran trader sees a rally to about $25k before the asset’s price pulls back to retest the potential neckline to complete the pattern. Notably, Brandt places the neckline support at about $18,387.5. (thecryptobasic)
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