BlockBeats News, March 27 — Renowned trader and chart analyst Peter Brandt, who successfully predicted the Bitcoin crash in 2018, released a chart this morning indicating that Bitcoin’s price chart has formed an ascending wedge pattern. This is a classic bearish signal, suggesting a potential downside breakout.
The chart shows Bitcoin rebounding from a low of about $60,000 in January to approximately $71,000 in March, but the wedge’s upper and lower trendlines are converging, with the current price hovering between $65,000 and $70,000.
On March 10 and 16, Peter Brandt accurately predicted a short-term rebound in Bitcoin through technical analysis.
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