Veteran Trader Peter Brandt Shares Unusual Bitcoin Chart Pattern That Reflects Current Market Conditions

Before pointing out the formation on the Ethereum chart, Brandt shared the same pattern on Bitcoin and called it the"least reliable" due it’s inability to predict the future movement of the assets prior to a breakout.However, in case of a breakout, the symmetrical pattern ‌works well.

Usually, the pattern will be considered finished after the price of the asset breaks through the upper border of a pattern and then spikes up, forming a consolidation range above the rangebound.According to TradingView charts, both digital assets are currently moving in the symmetrical pattern mentioned by Brandt.Ethereum has also reached the border but, unfortunately, fell below it and now trades at $2,525, with the lowest volume observed in the last 30 days.

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