Peter Brandt’s analysis suggests Bitcoin could rise to $150,000 based on a technical pattern called an inverted expanding triangle.
A bullish signal shows Bitcoin could outperform gold, with an expected 400% rise, according to Brandt's chart analysis.
While Brandt holds positions in Bitcoin and gold, he remains neutral on Ethereum and Solana despite identifying bullish patterns.
Peter Brandt a renowned trader actively involved in trading for over 50 years, has predicted the future prices of Bitcoin. Brandt using the assumption of a key technical pattern gives a Bitcoin price prediction that could maybe go up to $150 000.
Bullish Price Reversal Indicated by Inverted Expanding Triangle
Brandt’s forecast is hinged on an inverted expanding triangle, a technical tool that’s defined by lower highs and lower lows, which looks like a seven-month triangle at Komah Consultants Ltd. This pattern, which has been established since March, has not been violated, which suggests that the price may be set to surge. Brandt has a lot of conviction in this pattern, so much so that he has built up a large speculative bet in Bitcoin.
Besides Bitcoin, Brandt also made a comparison between Bitcoin and gold and he saw the potential of Bitcoin beating the precious metal. Brandt also explains that in his view the current chart is displaying an inverted head and shoulder formation in terms of the digital currency to gold ratio. The above technical analysis implies that Bitcoin has the potential to reach more than 400% of gold prices, which underlines its upward potential.
https://twitter.com/PeterLBrandt/status/1848196001598988399 Brandt’s Views on Ethereum and Solana
In addition to Bitcoin, Brandt commented on other major cryptocurrencies like Ethereum and Solana. He identified a “cup and handle” formation on Solana’s chart, a pattern that could signal an upward breakout. However, Brandt remains neutral on Solana at present. Similarly, he observed an inverted head and shoulders pattern on Ethereum’s chart, traditionally seen as a bullish sign. Despite this, Brandt has no current exposure to Ethereum, expressing a flat position.
Despite favoring Bitcoin’s potential, Brandt remains optimistic about gold as well. Holding positions in both assets, he continues to see them as valuable long-term investments. While Bitcoin may surge against gold, he emphasizes the merits of both as part of his broader investment strategy.
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