Peter Brandt: Bitcoin currently lacks strong bottom signals

Famous trader and chart analyst Peter Brandt, who successfully predicted the Bitcoin crash in 2018, released a chart yesterday indicating that Bitcoin enthusiasts should abandon the idea of the price soaring to $250,000 this year.

Brandt believes that the current BTC trend is a channel pattern, rather than a bullish bottom reversal pattern. This pattern does not rule out further increases, but it lacks strong bottom signals.