Legendary Crypto Trader Shares Two Charts That Should Terrify Bulls
Analysis
Price Impact
HighVeteran trader peter brandt highlights a symmetrical triangle for eth and a broadening wedge for the total crypto market cap, both suggesting significant downside potential, possibly a 15-20% market-wide haircut.
Trustworthiness
HighPeter brandt is a legendary commodities trader with decades of experience, giving his technical analysis considerable weight.
Price Direction
BearishThe symmetrical triangle in eth is noted to be resolving to the downside, and the right-angled broadening pattern for the total crypto market cap shows massive bearish pressure on its horizontal support, implying potential significant drops for both eth and the broader market.
Time Effect
ShortA confirmed breakdown from these patterns (especially weekly candle closures) could trigger a swift and significant price movement in the short term, as indicated by the potential 15-20% plunge in market cap.
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Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News Ethereum's symmetrical triangle Broadening wedge on total cap Advertisement Veteran commodities trader Peter Brandt has posted some disturbingly bearish charts that are virtually guaranteed to spook the bulls. Brandt, who has decades of experience in commodity trading, has noted that "symmetrical triangle" in Ethereum (ETH) and a "right-angled broadening pattern" in the total cryptocurrency market paint a not-so-rosy picture for those who are betting on cryptocurrency market recovery. Between the symmetrical triangle in ETH and the right angled broadening pattern in Crypto Total Cap, the burden of proof will be on the bulls pic.twitter.com/deR53fI8q5 — Peter Brandt (@PeterLBrandt) January 29, 2026 This comes after Bitcoin, the flagship cryptocurrency, plunged below the $85,000 level earlier today. Advertisement Ethereum's symmetrical triangle The first chart focuses on the ETH/USD weekly pair, which has been coiling within a massive symmetrical triangle for months. HOT Stories Legendary Crypto Trader Shares Two Charts That Should Terrify Bulls Morning Crypto Report: -94% for Dogecoin (DOGE): Time to Worry? Not Yet, $10 XRP: Ripple Legend Provokes XRP Community With New Riddle, Binance Delists Meme Coins: 12 Gone Already Crypto Market Review: Will XRP Close out on $2? Ethereum (ETH) Back on Track, Big Bitcoin (BTC) Battle Ahead U.Today Crypto Digest: Shiba Inu (SHIB) Burns Explode 2,807%, Ripple CEO Teases Big Reveal, Bitcoin (BTC) Miners Capitulate Symmetrical triangles are typically defined by a series of lower highs and higher lows. Of course, they can be continuation patterns, and they are neutral until a breakout occurs. This time, however, the "coil" may be resolving to the downside. A breakdown from this structure would likely flush Ethereum below its key support zones. Advertisement If ETH closes a weekly candle below the lower trendline of the triangle, the pattern is confirmed bearish. Broadening wedge on total cap The second chart is, perhaps, the more alarming chart. It depicts a right-angled broadening pattern for the total cryptocurrency market cap. This pattern is characterized by a horizontal support line and an ascending resistance line. It essentially looks like a megaphone with a flat floor. Currently, there is massive bearish pressure on the horizontal support line. The market cap could plunge toward the $2.41 trillion level, which would be a roughly 15-20% haircut from current evaluations. #Peter Brandt