He said:
“Remember that charts can always morph. Price needs to reclaim $93K to negate,” he added.
Brandt has also recently outlined a deeper downside scenario while openly acknowledging the uncertainty inherent in market forecasting. The veteran trader and chart analyst posted on social media platform X on Jan. 19:
“$58K to $62K is where I think it is going.”
“If it does not go there, I will not be ashamed, so I do not need to see you trolls screen shot this in the future. I am wrong 50% of the time. It does not bother me to be wrong,” he further shared. That statement underscored his probabilistic approach to chart analysis, where projections are framed as possibilities rather than predictions. The lower price range he referenced aligns with historical support zones visible on longer-term charts and with measured-move targets derived from prior breakdown structures.
FAQ ⏰ What sell signal did Peter Brandt identify on bitcoin? He pointed to a completed bear channel signaling continued downside risk. Why is $93,000 important for bitcoin’s chart? Brandt said reclaiming $93K would negate the current bearish structure. What technical levels are acting as resistance for bitcoin? Declining moving averages and resistance near $98,900 and $107,482 are capping price. What downside support zones were highlighted? The chart marked potential support near $81,833 and $66,883.
