Veteran trader and chartist Peter Brandt flagged a pattern on Thursday signaling weakening bullish momentum for Bitcoin (CRYPTO: BTC).

Another Wave Of Selling?

Brandt, a technical analyst with nearly 50 years of experience, highlighted a rising wedge formation—a bearish technical analysis pattern that signals a potential reversal of an uptrend.

The pattern is characterized by price converging between two upward-sloping trendlines. As the price forms higher highs and higher lows, the narrowing pattern signals fading bullish momentum.

Key Support At Risk

Widely followed cryptocurrency commentator Michaël van de Poppe flagged something similar, pointing to Bitcoin’s ascending…

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