The double top on the BTC chart once again turned out to be a bear trap. Just like almost a year ago. At least, that’s what the famous trader Peter Brandt (732.2 thousand subscribers) thinks.
Only a fall in the price of#BTCbelow $56,000 can change his opinion:
“Bitcoin ($BTC) may develop its oft-repeated chart pattern: hump...decline...spike...dump...pump."
The July 5 double top attempt was a bear trap, as confirmed by the July 13 close.
The most likely scenario now is that the bears are trapped.
A close below $56k would refute this interpretation.”