Veteran trader Peter Brandt challenges the bullish outlook on Bitcoin, echoing a well-known pattern in charts where traders are anticipating a price surge. Just hours after Jelle predicted further price gains for the king cryptocurrency, Peter voiced his skepticism. 50 years of trading experience hasn’t yielded fortune for Peter, suggesting he doesn’t see an end to market downturns and believes trend lines aren’t reliable predictors of future movements. 85,700 USD is where Bitcoin currently hovers at, with traders hoping for more easing of volatility, but the expectation that this chaos won’t last forever remains prevalent. Jelle agrees, pointing out how Bitcoin has broken a daily downtrend line and formed an ascending triangle – both signs leading to potential upside movement, according to his analysis. He anticipates reaching $88,000 before long. However, Peter’s critique of this trend, coupled with general market skepticism, could pave the way for a surprising rally. 7 is the score on MVRV-Z metric – an indicator suggesting overvaluation in Bitcoin’s current price surge, while historically, Z scores above 7 have been linked to peak bull markets. This indicates the market may be in a consolidation phase before a steep rise.