Pro Trader Gives Bitcoin Warning Based On 1970s Soybean Crash
A debate is heating up amongst high market analysts. This follows veteran cryptocurrency dealer Peter Brandt’s suggestion that Bitcoin’s current value motion is dangerously mirroring a sample noticed within the 1970s soybean market.
This sample signifies the present cycle could have already reached its peak.
The Rare ‘Broadening Top’ Formation
Peter Brandt is a veteran dealer and chart analyst who has been energetic within the futures and foreign exchange markets since 1975. He has gained notoriety over a long time for correct development predictions and trades throughout commodities, futures, and crypto markets.
Brandt turned significantly well-known for his sample evaluation, which exactly predicted the Bitcoin value motion in 2017–2018.
In a current X post, Brandt identified that Bitcoin is presently forming a uncommon “broadening high” sample on its charts. This technical evaluation formation is characterised by two development traces that more and more diverge.
This motion creates a megaphone form as the value swings inside a wider vary.
This sample is often acknowledged as a reversal sign showing on the climax of an upward development. The completion of the sample usually ends in a pointy breakdown beneath the decrease development line, signaling the beginning of a significant bearish reversal.
Historical Parallel to Soybeans and MSTR Risk
Brandt drew a direct historic comparability to justify his warning: “In 1977 Soybeans shaped a broadening high after which declined 50% in worth. Bitcoin in the present day is forming the same sample.”
He highlighted a big market threat: “A 50% decline in $BTC will put $MSTR underwater.” The risk of a collapse in MicroStrategy (MSTR) triggering a downward spiral in Bitcoin is a recognized, although uncommon, situation. This is given MSTR’s huge BTC holdings.
Contrary to market expectations, Brandt concluded {that a} huge bull run could not materialize this cycle. Instead, he instructed that Bitcoin may appropriate right down to $60,000.
Counterpoint: Is It a Bullish ‘Wedge’?
Brandt’s bearish thesis didn’t go unchallenged. Prominent chart analyst @themarketsniper instantly rebutted Brandt’s submit.
@themarketsniper agreed that each the 1970s soybean chart and the 2025 Bitcoin chart show a broadening construction, which is characterised by more and more larger highs and decrease lows. However, he argued that the underlying development differentiates their that means.
He contended that the soybean chart was an Ascending Megaphone sample shaped throughout an uptrend. In distinction, Bitcoin’s value is presently located inside a Descending Broadening Wedge.
This wedge, he famous, is a construction the place draw back promoting strain weakens as power accumulates, in the end foreshadowing a bullish breakout.
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