The leading crypto Bitcoin (BTC), although it has risen above the $ 40 thousand level in recent days, it could not hold here and fell below this psychological level. The legendary trader and analyst with almost 50 years of experience predicts a potential return for BTC below $30,000.
Peter Brandt points out 28 thousand dollars for Bitcoin
Peter Brandt, who is known as an analyst who knows every step of Bitcoin and whose predictions we have included in the news of Kriptokoin.com, is below $ 30 thousand for the leading crypto Bitcoin. envisions a scenario. The analyst suggests that a dip below the ascending channel could happen during the next reversal.
Peter Brandt uses a fairly common pattern that Bitcoin has established since mid-February. As the analyst suggests, the completion of the channel usually results in a decrease equal to the width of the channel. Peter Brandt tweeted the following regarding his prediction:
Completion of a bear channel typically results in a decrease equal to the width of the channel, or in this case a tough test of 32,000… my guess is 28,000. That doesn’t make me an enemy of BTC.
BTC in free fall, analysts opinion negative
According to the daily Bitcoin (BTC) chart, it has already fallen out of the channel and is currently in free fall as no major support zone has been formed on the way down. Some traders and investors are betting on a return of around $35,000.
Peter Brandt does not choose $28,000 at random as it is the price to be reached after a drop equal to the range in which Bitcoin has moved before. Unfortunately, Bitcoin still trails tech stocks and the US market. Bitcoin remains in a sharp bearish trend even after its most recent reversal to $47,000, during which it broke out of the ascending channel, causing a shift in the sentiment market of the cryptocurrency.
At the time of publication, the leading crypto Bitcoin was trading at $38,377, losing 2.81% on a weekly basis. Although BTC attacks above $ 40 thousand, these moves do not last long and this bothers its investors. So with the analyst, he does not consider such moves as the basis for a significant price increase or reversal.
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