Bitcoin's 'Shooting Star' Pattern Raises Red Flag, Peter Brandt Backs It

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Bitcoin's 'Shooting Star' Pattern Raises Red Flag, Peter Brandt Backs It
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Legendary trader Peter Brandt backs this worrying Bitcoin price prediction

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Here's When XRP Downtrend Can End, Tron Shows 36% Rally Everyone Is Missing, Solana Price Drops by 11%, But Bullish Signal Is Here So, in technical analysis, a shooting star shows up when an asset's price opens, climbs sharply, and then retraces to close near its opening level, leaving a big wick at the top. This formation often shows up when buyers can't push the price up, facing resistance that can signal a flush downwards. This last weekly Bitcoin Shooting Star has quite the large wick at the top.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management. He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.

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