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TechFlow news, January 13 — Trader Peter Brandt stated on social media that the current Bitcoin chart pattern is a classic head and shoulders formation. The BTC head and shoulders pattern has the following three possible outcomes:
Complete and move toward the target
Fail and form a bear trap
Evolve into a larger pattern
He also noted that looking at the weekly chart, past bull markets have seen many such relatively smaller patterns.
According to trader Peter Brandt on social media, the current Bitcoin chart shows a classic head and shoulders top pattern. The $BTC head and shoulders top pattern has three possible outcomes: complete and reach target, fail and form a bear trap, or evolve into a larger pattern. He also noted that from the weekly chart perspective, past bull markets have seen many such relatively smaller patterns.
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