'Head and Shoulders' Graph Presented... "Imminent Crash"
);)
On the 30th, Brandt claimed on his X account that based on the chart pattern 'Head and Shoulders', which indicates a trend reversal according to technical analysis theory, could drop to $78,000.
He released the Head and Shoulders graph he had drawn, indicating that is currently poised for a downward trend.
Head and Shoulders is a technical analysis pattern that signals a reversal of the prevailing trend of a particular asset in the financial markets. It typically forecasts the end of an upward or downward trend and the start of a new one. Generally, a specific asset rises in a shoulder-like shape, then declines slightly, forms a higher peak representing the 'head', then declines again, and finally rises in a shoulder-like shape once more.
Brandt shared his Head and Shoulders graph, suggesting that has reached its peak at the 'head' and is now facing a sharp decline. According to Brandt's Head and Shoulders graph, 's 'shoulders' could drop below $79,000.
While acknowledging the possibility of his prediction being incorrect, Brandt stated that " is currently poised for a drop to $78,000 from the top".
has crashed by 2% in a single day, recording around $92,604 as of 9 AM on the 31st, according to CoinMarketCap.
Kwon Seung-won, Reporter ksw@blockstreet.co.kr
