Ah, Peter L. Brandt, the old-school commodities trader who’s been around since disco was a thing, has decided to grace us with his bearish wisdom on Bitcoin. Yes, the man who probably remembers when a dollar was worth something has taken to Twitter to unveil his latest findings. Spoiler alert: it’s not good news for Bitcoin. 📉
In a tweet that could only be described as a digital version of a smoke signal, Brandt revealed two bearish patterns he spotted on a Bitcoin chart. Apparently, he believes Bitcoin is about to take a nosedive, which is a bit like saying the sky is blue—hardly groundbreaking news, right? But wait, there’s more! He’s debating this with none other than ChatGPT, the AI that’s probably too busy writing sonnets to care about Bitcoin’s fate.
Bearish price drop unless this happens; AI disagrees
Brandt, in his infinite wisdom, shared his interpretation of a Bitcoin chart on the X platform (formerly known as Twitter, because rebranding is all the rage). He’s identified a double top pattern and a pennant formation, which sounds like a fancy way of saying, “I think Bitcoin is going to crash unless it magically recaptures the $95,321 level.” Good luck with that, right? 🤷♂️
He confidently stated that the market has completed a double top, which is not a reference to a bad haircut, and then saw the top retested by the pennant formation. This is all very technical, but it basically means he’s predicting a bearish forecast. “Don’t shoot the messenger,” he tweeted, as if he’s not the one holding the gun. 🔫
1. Market completes double top
2. Top retested by pennant
3. Pennant completed, confirms bearish chart
Bitcoin $BTC
Don’t shoot the messenger
Price must recapture #2 to turn positive— Peter Brandt (@PeterLBrandt) March 9, 2025
In a plot twist worthy of a daytime soap opera, a commentator chimed in, claiming he consulted ChatGPT about this chart, and the AI didn’t see a pennant formation. To which Brandt replied, “My trading rules could care less what AI says.” Well, that’s comforting. I’m sure the robots are quaking in their circuits. 🤖
My trading rules could care less what AI says
— Peter Brandt (@PeterLBrandt) March 9, 2025
Since March 3, Bitcoin has lost over 11% of its value, plummeting from the $93,500 zone to a mere $82,250. It’s like watching your favorite stock go on a diet—except it’s not losing weight, it’s losing value. Over the past 24 hours, it has added a measly 2.5%, which is like saying, “Hey, I’m not dead yet!”
Robert Kiyosaki slams Bitcoin ETFs as “fake”
Meanwhile, over the weekend, Robert Kiyosaki, the man behind “Rich Dad Poor Dad,” decided to weigh in on the Bitcoin drama. He’s back at it again, claiming that “the biggest stock market crash” has arrived, which he apparently predicted back in 2014. It’s like he’s the Nostradamus of finance, but with less flair and more doom. 😬
Kiyosaki warns that this crash is going to wipe out the futures of millions of baby boomers. Thanks, “banksters” and the educational system! He suggests that the way out is to buy Bitcoin, real gold, and silver. But hold your horses! He cautions against buying any ETFs based on those assets, calling them fake. Because who doesn’t love a good conspiracy theory? 🕵️♂️
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2025-03-10 14:27