Old-school commodity trader Peter Brandt, who often publishes Bitcoin graphs, has taken to Twitter to share a Dogecoin chart this time.
He has referred to the most popular—and so much loved by centibillionaire Elon Musk—meme coin as a "double-headed monster."
The chart Brandt has published shows a Head & Shoulders pattern forming for DOGE. Only in this case, the pattern has two heads. H&S is a pattern that usually promises a reverse of the asset price.
Yuri MolchanAn upside-down H&S predicts a bullish move. By posting his chart, Brandt, it seems, expects Doge to continue moving downward.
Do you believe in double-headed monsters $DOGE ?
— Peter Brandt (@PeterLBrandt) July 19, 2021
I do. pic.twitter.com/CwKBvgvW7g
Earlier this month, Brandt has already published a similar DOGE pattern. However, he warned that when patterns are formed they do not necessarily work literarily.
Alex Dovbnya
Dan Burgin