The veteran trader who accurately forecasted Bitcoin’s 2018 meltdown is issuing a fresh warning to crypto investors.
Peter Brandt says that after falling out of a bearish downward-sloping channel to around $87,000, BTC bulls have a lot of work to do.
“Yet another sell signal in Bitcoin as a bear channel has been completed. Remember that charts can always morph.”
At this point, Brand says Bitcoin’s price needs to reclaim $93,000 to pave the way for a possible reversal to the upside.
As for his downside target, Brandt recently said he believes BTC will ultimately drop to $58,000 to $62,000.
Follow us on X, Facebook and Tumblr
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf BitcoinLinux Mix
Disclaimer: Opinions expressed at BitcoinLinux are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. BitcoinLinux does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is BitcoinLinux an investment advisor. Please note that BitcoinLinux participates in affiliate marketing.
Featured Image: Shutterstock/prodigital art
The post Trader Who Nailed Epic Bitcoin 2018 Collapse Says BTC Must Surpass This Level – Or Else appeared first on BitcoinLinux.
