Peter Brandt: Bitcoin shows a sell signal

Peter Brandt, a well-known trader and chart analyst who successfully predicted the Bitcoin plunge in 2018, released a chart this morning, pointing out that the Bitcoin price chart forms a rising wedge pattern, which is a typical bearish signal that suggests a potential downside breakthrough. The chart shows that Bitcoin rebounded from a January low of about $60,000 to about $71,000 in March, but the wedge of upper and lower rails converged and the current price hovers in the $65,000 -70,000 range. On March 10 and 16, Peter Brandt accurately predicted the short-term rebound of Bitcoin through technical analysis.