Commodity trader Peter Brandt has posted a mysterious chart and no one seems to be able to decipher it
Recently tweeted trader Peter Brandt warned Cryptocurrency traders that Bitcoin, the largest cryptocurrency, has formed a “three blind mice” chart.
Although some of Brandt’s followers have speculated that he simply coined the name for the chart formation, the commodity trader has used the term many times in the past to describe what appears to be an ongoing pattern.
Notably, the cryptocurrency trader on Twitter About the “Famous Six Blind Mice Signal” back in April 2020. At the time, the world’s largest cryptocurrency was preparing for a massive bull run that began a few months after Brandt’s analysis of that chart.
The construction outlined by Brandt looks similar to the “three black crows” pattern, but the pattern consists of three consecutive long red candles. This is not the case in the chart shared by Brandt. The “Three White Soldiers” pattern is the opposite of the “Three Black Crows” chart structure, which has three long haired green candles.
Price earlier today Bitcoin: Bitstamp has fallen to an intraday low of $16,743 after Mazars, the French financial auditing firm behind the Binance Proof of Reserves (PoR) audit, abruptly halted all crypto work.
The cryptocurrency market is down 75.64% from its all-time high of $69,044.