Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/peter-brandt-predicts-bitcoin-to-reach-new-record-highs/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Peter Brandt Predicts Bitcoin to Reach New Record Highs</a><br></p>
<p style="text-align: justify;">Experienced trader Peter Brandt foresees Bitcoin (BTC) breaking out of its price stagnation to reach new record levels. Brandt points out in a chart shared with his 737,800 followers on social media platform X that Bitcoin is following a parabolic curve formation on the weekly chart.</p>
<h2 id="cup-and-handle-formation">Cup and Handle Formation</h2>
<p style="text-align: justify;">Brandt also suggests that Bitcoin has been forming a large cup and handle pattern since late 2020. This formation is generally considered a sign that the upward trend will continue. The asset takes a brief pause before surpassing a significant resistance level after a sharp rally.</p>
<p style="text-align: justify;">Looking at the trader’s chart, it is clear that $73,734 is the critical level that needs to be surpassed. The chart also shows a parabolic curve indicating that Bitcoin could exceed $150,000 next year.</p>
<h2 id="current-situation">Current Situation</h2>
<p style="text-align: justify;">At the time of writing, Bitcoin is trading at $57,652, and if Brandt’s <a href="https://finance.coin-turk.com/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">bull market</a> target materializes, potential gains of 160% could be in play. Last week, Brandt also warned that if Bitcoin bulls fail to gain momentum, BTC could fall below $50,000.</p>
<p style="text-align: justify;">Brandt stated, “Testing the lower boundary could be around $46,000. A strong move to new all-time highs is needed for this bull market to get back on track. In this inversely expanding triangle model, selling is stronger than buying.”</p>
<p style="text-align: justify;">Brandt’s analyses can provide investors with valuable insights into Bitcoin’s <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future</a> price movements while helping them understand the current market situation. However, it is important for investors to be cautious and conduct their own research.</p>
<p style="text-align: justify;">Peter Brandt’s forecasts might be promising for long-term Bitcoin investors. However, since <a href="https://en.coin-turk.com/ftt-token-faces-speculative-turbulence-amidst-payment-promises-during-bankruptcy/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> markets are often highly volatile, investors should be cautious and closely monitor market movements.</p>
<p>The post <a href="https://en.coin-turk.com/peter-brandt-predicts-bitcoin-to-reach-new-record-highs/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Peter Brandt Predicts Bitcoin to Reach New Record Highs</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Peter Brandt Predicts Bitcoin to Reach New Record Highs

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