The post Legendary Trader Brandt Makes Bearish Bitcoin Prediction, Debating AI Forecast appeared on BitcoinEthereumNews.com.

Old-school commodities trader Peter L. Brandt, who has been in the business since the mid-1970s, has published a tweet where he showed two bearish patterns he spotted on a Bitcoin chart. He believes that Bitcoin is likely to decline now, debating an opposite position suggested by ChatGPT. Related Bearish price drop unless this happens; AI disagrees The trader offered to the crypto community on the X platform his interpretation of a Bitcoin chart, which he believes to be bearish. Brandt has identified a double top pattern and a pennant formation on this graph. Both suggest that the price of the world’s largest cryptocurrency, Bitcoin, is likely to display a large decline soon unless BTC recaptures the crucial $95,321 level to attempt to go higher and eventually turn positive. Brandt stated that the market has completed a double top and then saw the top retested by the pennant formation, which was completed later, confirming a bearish forecast. “Don’t shoot the messenger,” the trader wrote in the tweet. 1. Market completes double top2. Top retested by pennant3. Pennant completed, confirms bearish chartBitcoin $BTCDon’t shoot the messengerPrice must recapture #2 to turn positive pic.twitter.com/PE9jlwYIiO — Peter Brandt (@PeterLBrandt) March 9, 2025 A commentator responded, saying he had consulted ChatGPT on this chart and the AI bot has not detected a pennant formation as of today’s Bitcoin price. To that, the renowned trader replied: “My trading rules could care less what AI says.” My trading rules could care less what AI says — Peter Brandt (@PeterLBrandt) March 9, 2025 Since Monday, March 3, Bitcoin has lost more than 11% of its value, crashing from the $93,500 zone and landing at $82,250 as of press time. Over the past 24 hours, it has added 2.5%, pushing away from $80,300. Related Robert Kiyosaki slams Bitcoin ETFs…

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Filed under: News - @ March 10, 2025 3:24 pm