Gate News message, April 29 — Peter Brandt, the renowned trader and chart analyst who successfully predicted Bitcoin's 2018 collapse, posted a chart analysis yesterday (April 28) arguing that Bitcoin enthusiasts should abandon expectations for BTC to reach $250,000 this year.
Brandt characterized the current Bitcoin price action as a channel formation rather than a bullish bottom reversal pattern. While this formation does not rule out further upside, it lacks a strong bottom signal, according to his analysis.
