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In a recent tweet, trader Peter Brandt has warned cryptocurrency traders that Bitcoin, the largest cryptocurrency, has formed the “three blind mice” chart pattern.
Even though some of Brandt’s followers assumed that he just made up the name of the chart construction, the commodity trader has repeatedly used the term in the past to describe what appears to be a continuation pattern.
Notably, the cryptocurrency trader tweeted about the “famous six-blind-mice signal” back in April 2020. Back then, the world’s largest cryptocurrency was gearing up for a massive bull run that started a few months after Brandt shared that chart analysis.
Earlier today, the price of Bitcoin dropped to an intraday low of $16,743 on the Bitstamp exchange after Mazars, the French financial auditing firm behind Binance's proof-of-reserves (PoR) audit, abruptly halted all crypto work.
The cryptocurrency market remains down 75.64% from its all-time peak of $69,044.
Vladislav Sopov