Veteran financial markets trader Peter Brandt believes that Bitcoin is about to end its month-long correction and see another price rally. Brent said in a blog post that he opened long positions on Bitcoin because he believes Bitcoin could be ready to break out of the megaphone pattern. He also pointed out an inverse head and shoulders pattern on the daily chart, which could be a bullish signal. Brent predicts that Bitcoin could break out of the larger megaphone pattern if it manages to break resistance around $72,000.
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