Peter Brandt’s back on X, throwing another curveball into the crypto game. On Oct 2, he told his 740,000 followers that Bitcoin’s shapeshifting into a wild “Three Blind Mice and a Piece of Cheese” formation. If that phrase feels like a fever dream, you’re not alone. But don’t let the name throw you off. When Brandt talks, traders listen, even if it sounds like a bedtime story gone wrong.
Morpher’s data pegs this “three blind mice” pattern as one of those tricky continuation signals, meaning wherever these blind critters head, Bitcoin’s gonna follow. And with volatility cranked up to 11, traders aren’t sure if they’re staring down a cheese trap or the breakout they’ve been waiting for.
Volatility Hits Hard as BTC Drops
So far, it’s looking grim. Bitcoin has nosedived 7.1% over the last 72 hours, shredding nearly two weeks’ worth of slow-cooked gains. Global markets are jittery with Middle East tensions spiraling and fears about the shaky U.S. economy keeping everyone on their toes. But let’s be real, the upcoming election isn’t helping either—uncertainty is spooking both seasoned whales and the shrimp.
Brandt’s early Oct. post came with a downer: Bitcoin’s recent pump didn’t shake off the 7-month cycle of lower highs and lower lows. “Only a close above 71,000 confirmed by a new ATH will indicate that the trend from the Nov 2022 low remains in force,” Brandt said. In short, unless BTC breaks north of $71K, the bulls are stuck in traffic.
“Three Blind Mice” or Brandt’s Crypto Riddle?
Now, some crypto heads are scratching their noggins, wondering if this “Three Blind Mice” pattern is Brandt’s cheeky take on the “Three Black Crows” play, which usually rings alarm bells for a trend reversal. December 2022 was the last time Brandt shouted about this pattern—Bitcoin was hanging around $17K, and after a brutal slump, it clawed its way back up in January.
Right now, traders are split—are we seeing the blind mice scurry toward another crash, or will they pull a wild card and run Bitcoin up to new heights? All eyes are glued to the charts, waiting for the next move.
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