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Home»Analysis»Veteran Trader Peter Brandt Issues Bitcoin Warning, Warns BTC Is Giving a Bearish Signal – Here Are His Targets
Analysis

Veteran Trader Peter Brandt Issues Bitcoin Warning, Warns BTC Is Giving a Bearish Signal – Here Are His Targets

2024-12-31No Comments2 Mins Read
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Seasoned trader Peter Brandt warns investors, saying Bitcoin (BTC) is showing a major bull flag.

In a new thread on the social media platform X, Brandt tells Its 766,000 followers indicate that the leading cryptocurrency by market cap is forming a head-and-shoulders top pattern, indicating it could crash all the way back below $80,000.

“This is a head and shoulders top pattern. It could be complete and bring the price to $78,000; it could fail with a thrust rent: or it could turn into something else. But as it stands now, it is head and shoulders a top issue and it must be dealt with as it is.”

Source: Peter Brandt/X

Brandt further notes that the crypto king could be forms a similar pattern to years ago before finally reaching new heights.

“If you are a Bitcoiner, check out this post from a few years ago. It describes the famous Hump Slump Bump Dump Pump card construction in BTC. The same thing could happen now.”

Gf7RCxvXwAA6lqD
Source: Peter Brandt/X

Concluding his analysis, Brandt said say that those who see digital assets like BTC and the smart contact platform Solana (SOL) as a means to achieve economic justice will be disappointed.

“Editorial – you can agree or disagree. Many in the M and Z generations see crypto (BTC, SOL, others) as something that will bring them economic justice and make all things right in the universe. Those who think this way are in for a huge disappointment. Sorry!”

Bitcoin is trading at $94,190 at the time of writing, down 1.4% over the past 24 hours.

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Bearish Bitcoin Brandt BTC giving Issues Peter Signal Targets trader veteran Warning warns
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