The post Veteran Chartist Brandt Rejects Bitcoin Bull Flag Narrative appeared on BitcoinEthereumNews.com.

Veteran trader and classical chartist Peter Brandt has rejected the narrative that Bitcoin’s current multi-month consolidation is a “bull flag.”  Brandt has cautioned market participants against making up their own charting rules simply to fit a bullish bias. Meant to be educational here, not insulting, butNewbies to price charting have the tendency to make up rules as they goThe rules have already been writtenEdwards and Magee, 1948Richard W Schabacker, 1934Some call Bitcoin a flagBut not the founders of charting, thus not me pic.twitter.com/KveB5BuhmZ — The Factor Report (@PeterLBrandt) April 16, 2026 Charting rules  Brandt took to X (formerly Twitter) to address the growing chorus of retail traders and analysts who have been labeling BTC’s recent upward-sloping price channel as a classic continuation pattern. “Meant to be educational here, not insulting, but newbies to price charting have the tendency to make up rules as they go,” Brandt posted. Veteran Chartist Brandt Rejects Bitcoin Bull Flag Narrative Bitcoin Pushes 200-Day Return to $87,000 Amid Quantum Fears, XRP Price’s Rare Double-Bottom Opportunity Appears, Binance Lists Microsoft and Alibaba on TradFi Roaster: Morning Crypto Report He has stressed that the definitive mechanics of technical analysis were established decades ago by market pioneers like Richard W. Schabacker (1934) and Robert D. Edwards and John Magee, authors of the 1948 definitive guide Technical Analysis of Stock Trends. Modern commentators might look at Bitcoin’s current chart and see a flag, Brandt noted: “But not the founders of charting, thus not me.” You Might Also Like According to classical charting principles, a dependable flag or pennant pattern must complete its formation and break out within a strict four-week window. True flags are characterized by a brief, high-momentum pause (often described as flying at “half-mast”) before a prior aggressive trend resumes. Patterns that stretch into eight or ten weeks…

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Filed under: News - @ April 16, 2026 11:23 pm