The veteran trader who accurately predicted Bitcoin’s meltdown in 2018 has a new warning for crypto investors.
Peter Brandt says Bitcoin bulls have a lot of work to do after breaking out of a bearish descending channel near $87,000.
“Another sell signal for Bitcoin as a bearish channel has been completed. Remember that charts can always change.”
At this point, Brand says Bitcoin needs to recover $93,000 to pave the way for a potential reversal to the upside.
Regarding downside targets, Brandt recently said he believes Bitcoin will eventually fall to between $58,000 and $62,000.
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