Veteran Trader Peter Brandt And Popular Analysts Predict Another Bitcoin Price Fall

Veteran trader Peter Brandt has once again come up with a warning for the Bitcoin market. He revealed that BTC price is again retesting the neckline on the underlying inverted head-and-shoulders pattern. Peter Brandt predicts a BTC price fall and warns that a close below 24,800 would damage the daily and weekly graphs.

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Bitcoin
Source: Peter Brandt

Market analyst Rekt Capital noted that Bitcoin had posted a very bearish technical signal. With the Double Top pattern now complete, BTC could soon see $26k as resistance rather than support as in trends downward.

Popular crypto analyst CrediBULL Crypto, Crypto Tony, and Crypto Birb predict $25k as the best price to buy the dip. CrediBULL Crypto predicted that Bitcoin price will not fall below $25,000 and a similar market correction happened before BTC price hit an all-time high.

Bitcoin Price Nears Inflection Point

BTC price trades at $26000, down 2% in the past 24 hours. The 24-hour low and high are $25668 and $26587, respectively. Furthermore, the trading has dropped 45% in the past 24 hours, indicating a decline in interest among traders.

Meanwhile, ETH price also fell 2% in the past 24 hours, with the price currently trading at $1660. It fails to hold upside momentum after reports that SEC may approve Ether futures ETF. The trading has decreased by 55% in the past 24 hours.

Despite the current dip, Bitcoin is still up nearly 50% year-to-date. Binance CEO “CZ” also noted the negative sentiment spreading in the market and suggested to “zoom out.”

Also Read:

  • Shiba Inu Lead Developer Promises Scaling Shibarium By 1500%
  • Analysts Predict ETH/BTC Collapse as End of Altcoin Reckoning
  • Ripple CTO Unveils Ripple Effect Of SEC’s Unconventional Appeal

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