Peter Brandt: Bitcoin shows sell signal

Famous trader and chart analyst Peter Brandt, who successfully predicted the Bitcoin crash in 2018, released a chart this morning indicating that the Bitcoin price chart is forming a rising wedge pattern, which is a typical bearish signal suggesting a potential downward breakout.

The chart shows that Bitcoin rebounded from a low of about $60,000 in January to around $71,000 in March, but the upper and lower trendlines of the wedge are converging, with the current price hovering in the $65,000-$70,000 range. On March 10 and 16, Peter Brandt accurately predicted a short-term rebound in Bitcoin through technical analysis.

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