ChainCatcher message, the famous trader and chart analyst Peter Brandt, who successfully predicted the 2018 Bitcoin crash, released a chart analysis this morning indicating that the ETH price chart has formed a symmetrical triangle pattern. At the same time, the total cryptocurrency market cap shows an expanding right angle pattern. Bulls need to prove a breakout to dominate the market, while historically, such patterns often indicate further volatility or decline, emphasizing the advantage of bears. Peter Brandt also predicts, “Bitcoin will bottom out and rebound between August and October, then soar all the way up. At least for now, that’s how it looks.”
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