Veteran Trader Peter Brandt Warns Bitcoin (BTC) Needs to Hit Higher Targets to Confirm Bull Trend Is Intact

Veteran trader Peter Brandt is issuing a warning about Bitcoin (BTC) amid the flagship crypto's decline to the $60,000 level.

Veteran crypto trader Peter Brandt is keeping a close eye on XRP and Bitcoin (XRP/BTC) after the pair rallied by over 1,000% from the 2023 lows.

Brandt tells his 738,000 followers on the social media platform X that XRP/BTC appears to be forming a head and shoulders (H&S) pattern on the monthly chart.

A head and shoulders pattern is typically considered a bearish reversal pattern in technical analysis.

“This is an X post that many will screenshot and remind me of often for years to come. Does everyone know that Ripple actually is formal name for ‘RIP PPL OFF’? XRP/BTC chart has an 11-year complex H&S that ONLY IF completed projects price to ZERO Bitcoin. Good news for the day!”

XRP/BTC is trading for 0.00000861 BTC ($0.52) at time of writing, down nearly 2% in the last 24 hours.

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