Bitcoin (BTC) on Brink as Legendary Trader Brandt Warns About Ominous Pattern
2024-09-26

In a recent social media post, commodity trader Peter Brandt noted that Bitcoin is in the process of forming a series of lower highs and lower lows.
Bitcoin ($BTCUSD) continues to be in a sequence of lower highs and lower lows. Only a meaningful close above the Jul highs would change this sequence and official complete the 6-month expanding triangle pic.twitter.com/GaSBWZRoE6— Peter Brandt (@PeterLBrandt) September 25, 2024
This pattern tends to signal a bullish-to-bearish trend reversal in almost all markets.
According to Brandt, only "a meaningful close" above the July highs would be able to change this sequence. 
Bitcoin is currently trading at $63,616, according to CoinGecko data. The leading cryptocurrency has slipped by 0.9% over the past 24 hours.
As reported by U.Today, Brandt recently predicted that Bitcoin would be able to substantially outperform gold.