Peter Brandt: Bitcoin Currently Lacks Strong Bottom Signal

BlockBeats News, April 29th - Renowned trader and chart analyst Peter Brandt, who successfully predicted the Bitcoin crash in 2018, yesterday posted a chart indicating that Bitcoin enthusiasts should give up the view of this year's price reaching $250,000.

Brandt believes that the current BTC trend is in a channel formation rather than a bullish bottom reversal pattern. While this formation does not rule out further upward movement, it lacks a strong bottom signal.