🚨BTC’s Bull Trap: The Wolf in Sheep’s Clothing?🚨

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The dusty roads of the cryptocurrency market, where fortunes are made and lost with the whims of the wind. And now, a warning sign flails in the breeze, courtesy of the venerable Peter Brandt, a chartist with more miles under his belt than a ’68 Ford truck. He’s eyeing Bitcoin (BTC) with a mix of curiosity and skepticism, like a farmer sizing up a stormy sky.

The largest cryptocurrency, that great golden calf of the digital age, has conjured up an inverse head-and-shoulders pattern on its daily chart. Typically, this would be the market’s way of saying, “Hey, partner! Time to saddle up for a bullish ride!” But, as Brandt is quick to point out, this particular pattern’s got a wonky neckline – sloping downward like a frown on a sad clown’s face.

Brandt, with the wisdom of over four decades of trading commodities (that’s even longer than the wait for the next Grapes of Wrath!), prefers his H&S patterns with necklines as straight as a Kansas highway. This downward slope, though? That’s just a sign of the bulls losing their gusto, like a tired band playing the same old tune.

So, what’s the takeaway from this market tea-leaf reading? Well, don’t be surprised if any breakout ends up being a fakeout, leaving investors to pick up the pieces like a farmer after a tornado – wondering what hit ’em, with Bitcoin potentially plummeting back below the neckline, down to the depths of…

…Plunging back to $60,000? The Agony and the Ecstasy

Josh Olszewicz, another trader with a keen eye for the market’s shenanigans, has sounded the alarm on social media. For him, this pattern is the bulls’ last hurrah. Miss this bus, and Bitcoin might just find itself on a southbound train to the $60,000-$70,000 range. Talk about a ticket to disappointment!

1D $BTC

last call for the bulls on this iH&S here, else we fall back into the prev range (60-70k)

going into april 2nd we’ll see just how much tariff news was already priced in…or not 🤔

— #333kByJuly2025 (@CarpeNoctom) March 29, 2025

As of now, Bitcoin is trading at $83,091, down 0.7% over the past 24 hours, according to CoinGecko. That brief dip to $81,769 earlier on Sunday? Just a little reminder of the volatility that’s always lurking around the corner, like a coyote eyeing its next meal.

So, there you have it – the cryptocurrency market, where the only constant is change, and the only truth is that nothing’s as it seems. Buckle up, folks! 🎠

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2025-03-30 11:20