Peter Brandt, the legendary trader with over 40 years of experience in trading, who usually posts charts related to promising digital assets, such as Bitcoin (BTC), has been massively showing interest in the hottest dog-themed token in the market, Shiba Inu (SHIB).
Within the last two weeks, Brandt has posted two prominent charts regarding the price trend of SHIB in the market, which indicates his bullishness on the altcoin.
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For the third time this month, the legendary trader has shared another chart related to Shiba Inu (SHIB), which suggests that the meme token may retest its July lows of less than $0.000010.
Howbeit, the experienced trader said the inverse will be confirmed if SHIB manages to rise above the delicate level. Although he said the Head & Shoulder (H&S) pattern is not considered in the chart.
In the tweet on the 24th of August, where an illustrative chart is captioned, Peter Brandt wrote, “Hey @jonbking check this chart out. A decline below Jul lows would not be pretty, while a turn up in price would confirm the inv. H&S In absentia.”
Peter Brandt released his first chart about Shiba Inu (SHIB) a day before the digital token recorded over 30% price uptrend within 24 hours.
In the chart shared on his Tradingview account, the veteran trader indicated that the dog-themed token was set for a big upside trend. His sentiment was based on the fact that SHIB completed the inverted Head & Shoulder (H&S) pattern, which is a major signal for a trend reversal.
Read Also: Shiba Inu (SHIB) Breaks Out Of Its Dominant “Cup and Handle” Pattern. What Does This Imply? Details
Brandt’s second was shared on his official Twitter handle on the 20th of August. In the chart, he pointed out that Shiba Inu (SHIB) is either on the edge of a bullish rally after retesting the previous resistance as support or a bearish trend that could send it down to lower prices.
Peter Brandt tweeted, “With SHIB hold above neckline support, or will we need to drop the letter “B” and adopt a different letter that comes later in the alphabet?”
In a nutshell, Peter Brandt’s growing interest can be termed as a boost for Shiba Inu (SHIB) due to his excellent track record in trading. People believe that he won’t waste his time on tokens with no future prospects.
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