Attention Traders!

Peter Brandt, that veteran who seems to have more vision than a finely tuned crystal ball, is back with his famous warning: Bitcoin could be entering a “three blind mice” pattern. Yes, you read that right, three mice and a piece of cheese! What does this mean? Well, the market could be about to walk into a trap, and traders, like blind mice, run straight into it without seeing what awaits them.

On October 2, Brandt shared this gem of wisdom with his 740,000 followers on X, the social network formerly known as Twitter (not even names can hold up these days!). For those uninitiated in the mystical art of technical analysis, this “three blind mice” pattern is a sign that the market could continue in its downtrend.

According to Morpher, this formation tends to indicate that more of the same is coming, in this case, more declines.

Brandt had already issued this warning in December 2022, when Bitcoin was hovering around $17,000 and plummeted for weeks before a rebound in January 2023. Coincidence? Perhaps, but many traders are now wondering if they should prepare for something similar.

But that's not all, because Brandt, as a good prophet of crypto catastrophes, also warned that Bitcoin's recent rally is nothing more than an illusion. According to him, Bitcoin is still in a downward spiral, and only breaking $71,000 with a new all-time high could save it from the abyss. So, if you thought you were out of the woods, think again!

The result of all this chaos? Bitcoin has lost 7.1% in just three days. And while the world worries about the Middle East, the strength of the US economy, and the elections, it seems that even cryptocurrencies are nervous. So get ready for cheese or fall into the trap!

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