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Peter Brandt Calls Dogecoin's Pattern “Double-Headed Monster”, Hinting at Possible Further Decline

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Mon, 19/07/2021 - 14:32
Peter Brandt Calls Dogecoin's Pattern “Double-Headed Monster”, Hinting at Possible Further Decline
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Old-school commodity trader Peter Brandt, who often publishes Bitcoin graphs, has taken to Twitter to share a Dogecoin chart this time.

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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.

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An upside-down H&S predicts a bullish move. By posting his chart, Brandt, it seems, expects Doge to continue moving downward.

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.

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