Peter Brandt on BTC's Triangle Pattern: Holding Off on Trades
CryptoNewsTerminal Staff12 Aug, 2024
Peter Brandt on BTC's Triangle Pattern: Holding Off on Trades
Peter Brandt, a renowned American trader, recently shared a triangle pattern that has appeared on the BTC chart via Twitter, stating that he has no trading plans yet. Brandt explained, “I avoid trading until the price range is restricted and enter only after the pattern completes. Currently, the BTC chart is showing an inverted triangle or broadening triangle pattern. I am holding off on making trades as there has been no clear breakout as of yet.” A triangle pattern refers to a phenomenon where the dominant trend temporarily halts, indicating either a continuation or reversal of the existing trend. This is a developing story, and we will provide updates as they become available.
