Veteran trader Peter Brandt compares a soybean chart from 1977 with a Bitcoin chart from last year, arguing that the same technical formation (a broadening top) has repeated itself across completely different markets and eras. This chart pattern shows prices moving higher while volatility steadily increases, with successive highs becoming higher and successive lows becoming lower, creating a megaphone-like shape. After forming an expanding top near the cycle highs in late 2025, Bitcoin broke below support and entered a prolonged correction. Brandt expects a new low for Bitcoin in October and is speculating that gold could outperform the leading cryptocurrency over the near term, considering selling part of his Bitcoin holdings in favor of gold.
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