In a tweet that could only be described as a beacon of hope amidst the fog of uncertainty, the legendary trader Peter Brandt has cast his gaze upon a crucial time frame for Bitcoin (BTC) holders. He suggests that the days of February 24-26 may very well be the moment when the market decides to either dance or weep.
Brandt, with the precision of a surgeon and the flair of a poet, observes an internal symmetry on the Bitcoin chart. He hints that in the next three to five days, the chart will reveal its secrets, whispering sweet nothings to those who dare to listen. “To be telling BTC,” he proclaims, as if the very fabric of the universe is woven into the price movements of this digital currency.
In his tweet, he muses: “While not required, there is a tendency for the most reliable chart construction to have internal symmetry or balance between components. The daily chart of Bitcoin has developed that symmetry. Look for Feb 24-26 to be telling BTC.” Ah, the sweet sound of technical analysis! 🎶
While not required, there is a tendency for the most reliable chart construction to have internal symmetry or balance between components. The daily chart of Bitcoin has developed that symmetry. Look for Feb 24-26 to be telling $BTC
— Peter Brandt (@PeterLBrandt) February 21, 2025
His words come at a time when Bitcoin is teetering on the edge of a decisive phase, with traders peering through their crystal balls for signs of the next major trend. If Brandt’s observation holds true, we might witness a spectacle of volatility or a dramatic shift in momentum within the sacred time frame he has ordained.
Bitcoin, having recently taken a breather after a marathon of gains, now finds itself in a contraction phase. After its valiant second attempt to breach the $105,000 mark in late January, the market has decided to take a nap, with monthly price momentum plummeting like a lead balloon across major assets.
Currently, Bitcoin has been playing it cool, hovering in the $93,000 to $98,000 range, as if waiting for the right moment to pounce. As the holders of this digital gold prepare for potential market movements, all eyes will be glued to how BTC reacts in the lead-up to the fateful days of February 24 to 26, as highlighted by the ever-watchful Brandt.
Bitcoin price action
As of this very moment, Bitcoin has managed to rise a modest 0.78% in the last 24 hours, reaching $98,553 after flirting with intraday highs of $99,517. This surge comes on the heels of the latest comments from Fed officials, who seem to have a knack for stirring the pot with their rate-cutting plans and bullish Coinbase news.
Alberto Musalem, the President of the Federal Reserve Bank of St. Louis, has chimed in, suggesting that while price hikes may continue to moderate, the risks of “moving higher seem skewed to the upside.” A true master of the obvious! Therefore, he advises that policy should “remain modestly restrictive.” Because who doesn’t love a little restriction in their lives? 😏
Atlanta Fed President Raphael Bostic echoes this sentiment, declaring, “this is no time for complacency,” as inflation might just decide to stick around like an unwanted guest. He describes the current monetary stance of the Fed as moderately restrictive and predicts two interest rate cuts in 2025. A bold prediction, indeed!
In a twist of fate, the SEC is poised to drop the Coinbase lawsuit, marking a significant moment for the crypto industry. Perhaps a sign that even the most stubborn of bureaucracies can find a way to lighten up? 🤷♂️
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2025-02-21 21:00