According to the Morpher technical analysis platform, the "three blind mice" pattern is generally considered a continuation pattern, meaning that whichever direction the "three blind mice" are moving, that's the direction the price will move.
The last time Mr. Brandt mentioned the "three blind mice" pattern was in a post on Site X on December 17, 2022, when #bitcoin was trading at around $17,000, followed by a multi-week decline and a sharp rise in January 2023.
In an earlier post on X's website dated Oct. 2, Brandt warned traders that bitcoin's recent rally has not "broken the seven-month string of lows and highs" and that bitcoin is still in an ongoing downtrend.
Only a close above 71,000, confirmed by the new ATH, will show that the trend from the November 2022 low is holding, Brandt wrote.
Several traders noted that Brandt's "three blind mice" pattern is a more humorous version of the "three black crows" pattern, which is used to mark the reversal of an uptrend.
The origin of the pattern's name may also be linked to a popular nursery rhyme that repeats two verses: "three blind mice" and "watch them run away". Bitcoin has fallen 7.1% in the past three days, and the 72-hour drop has wiped out 12 days of gains.
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