Peter Brandt believes a Bitcoin bear market channel has now been confirmed, signaling another potential sell setup.

Veteran trader and chart analyst Peter Brandt, who famously called Bitcoin’s 2018 crash, stated that the bearish price channel for $BTC has fully formed, once again flashing a sell signal. However, he also emphasized that charts can change at any time.

According to Brandt, Bitcoin would need to reclaim the $93,000 level to invalidate the current bearish signal and reopen the case for a bullish outlook.