Bitcoin's Pivotal Moment: Legendary Trader Predicts Volatility Ahead

Legendary trader Peter Brandt has drawn attention to a key time frame for Bitcoin (BTC) holders, suggesting that February 24-26 could be a pivotal period for the market. In a tweet, Brandt observed an internal symmetry on the Bitcoin chart and highlighted a specific time frame, stating that the next three to five days "will be telling for BTC."

Brandt's comments come as Bitcoin approaches a decisive phase, with traders closely watching for signs of the next major trend. If Brandt's observation holds, BTC could experience notable volatility or a shift in momentum within the suggested time frame. Bitcoin has held relatively steady in the $93,000 to $98,000 range, awaiting its next major move.

Bitcoin price action at the time of writing shows BTC up 0.78% in the last 24 hours to $98,553, reaching intraday highs of $99,517 on the back of the latest comments from Fed officials and bullish Coinbase (NASDAQ:COIN) news. Alberto Musalem, President of the Federal Reserve Bank of St. Louis, stated that price hikes will continue to moderate, but the risks of "moving higher seem skewed to the upside." Atlanta Fed President Raphael Bostic shared a similar sentiment, stating that "this is no time for complacency" as inflation might remain elevated. The SEC is poised to drop the Coinbase lawsuit, marking a big moment for the crypto industry.