Brandt Warns of Potential Bitcoin Crash

Veteran trader Brandt has expressed bearish views on Bitcoin's next move. According to his analysis, the flagship cryptocurrency remains trapped in a narrow range after a sharp correction earlier this summer. The current price is struggling to reclaim a key resistance area near $67,260.

Brandt points out a large head-and-shoulders pattern that developed between April and June. The pattern features two shoulders of similar height, with the May peak significantly above them. The neckline of the pattern was drawn around the $75,000 area, which Bitcoin broke below in early June. Brandt's chart suggests that the cryptocurrency could potentially retest the bottom of 2026, near $58,000.

Larger holders, known as whales, are also selling their coins. A recent report from Lookonchain indicates that a whale sold another 1,019 BTC (approximately $66.4 million) over the past three weeks. This whale has sold a total of 7,513 BTC, worth around $486.9 million, during this period.