
Famous trader Peter Brandt has just issued a warning that has the crypto world shuddering. According to him, Bitcoin could soon plunge into a prolonged downtrend, based on a mysterious trading pattern called “the three blind mice”.

Bitcoin forms a worrying bearish pattern
On October 2, Peter Brandt shared an enigmatic graphic on X (formerly Twitter) to his 740,000 subscribers. His terse message mentioned the formation of the “Three blind mice and a piece of cheese” model on the price of Bitcoin.
For insiders, this technical signal noted generally the continuation of an existing trend – in this case bearish.
This announcement comes in an already tense context for the world's leading crypto. Over the past three days, the price of Bitcoin has fallen by more than 7%, erasing nearly two weeks of gains. Several factors appear to be weighing on the market, including escalating tensions in the Middle East and growing concerns about the U.S. economy.
A warning to take seriously?
It should be noted that this is not the first time that Peter Brandt has mentioned this particular model. In December 2022, when Bitcoin was stagnating around $17,000, he had already mentioned the “three blind mice”. This announcement preceded a short period of crisis, before a spectacular rebound in January 2023.
However, Brandt remains cautious about interpreting these signals. In another message, he emphasizes that only a close above $71,000, confirmed by a new all-time high, would indicate that the upward trend initiated since November 2022 remains intact.
The crypto community remains divided on what exactly this pattern means. Some see it as a humorous version of the famous “three black crows” pattern, known to announce the reversal of an uptrend. Others make the connection with the eponymous children's nursery rhyme, suggesting increased volatility to come.
Faced with these contradictory signals, investors are called to be extremely vigilant. If history has shown that Bitcoin can surprise even the most seasoned analysts, the next few weeks promise to be crucial in determining the direction the crypto market will take.
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