Peter Brandt's Latest Predictions for Bitcoin and Ethereum. %88 🤑
Renowned trader and analyst, Peter Brandt, has once again caught the attention of the crypto community with his insights into Bitcoin's potential price movements.
In a recent article dated November 9, 2023, Brandt highlighted an important bullish formation in Bitcoin's chart known as a flag formation. He emphasized that this formation has been successfully broken, suggesting a potential upward movement.
Brandt pointed out that confirmation is needed for the continuation of the upward trend, and based on the inner measurements of the flag, he suggested a potential target of $43,289 for Bitcoin. Additionally, he outlined $35,135 as a lower target and $41,341 as an upper target, drawing an analogy with the head and shoulders formation.
Brandt's analysis aligns with his previous predictions that Bitcoin could see a rise from $30,000 to $35,000, indicating a similar possibility of a significant price increase.
Brandt also mentioned an analysis of Ethereum's chart, stating that a flag formation has been confirmed, raising expectations for a potential upward movement.
As per CoinGecko data, Bitcoin has experienced a 0.7% increase in the last 24 hours, currently trading at $37,160.
Brandt's technique for targeting involves measuring the flagpole height and projecting the same measurement from the last small reaction low within the flag to estimate potential price targets.
Despite his long-term outlook, Brandt continues to focus on the potential for instant price increases highlighted by confirmed chart formations. He emphasized that flag formations are crucial indicators for potential price movements, closely monitored by crypto investors.
It's important to note that in a previous prediction, Brandt stated that new all-time highs (ATHs) for Bitcoin wouldn't be achieved until the third quarter of 2024.
