Peter Brandt warns that Bitcoin may drop to $70,000, while XRP shows bullish signals!

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Veteran trader Peter Brandt recently issued a warning that Bitcoin (BTC) is forming a bearish reversal pattern, which could lead to a significant price drop. He reminded his 763,600 followers on social media platform X that BTC could fall to the $70,000 range, especially if it breaks below the $90,000 support level. Brandt specifically pointed out that this prediction is not certain but indicates a possibility, urging investors to remain vigilant.

Bitcoin faces downside risks

Brandt noted that a right-angle expanding triangle may form on Bitcoin's daily chart; if the price breaks below the $90,000 support level, BTC could further retrace to $76,614, or even drop to the $70,000 range. Although BTC's current trading price is $97,201, showing a slight recovery in the past 24 hours, market sentiment remains under pressure.

Cardano (ADA) faces bearish risks

In addition to Bitcoin, Brandt also warned that Cardano (ADA), a competitor to Ethereum (ETH), may form a head-and-shoulders pattern on its daily chart, which is often seen as a bearish reversal pattern, suggesting that the asset's upward trend may have ended. Brandt pointed out that if ADA fails to hold the $0.91 support level, its price could experience a significant drop. Currently, ADA's trading price is $0.95, having increased by 7.2% in the past 24 hours.

XRP performs well with great potential

However, amid Brandt's warnings, XRP (Ripple) shows bullish continuation signals. He stated that XRP appears to be forming a bull flag pattern on the daily chart, which typically indicates further upward potential for its price. If the bull flag pattern holds, the upside potential for XRP may equal the distance of the advance from the top of the flagpole, suggesting that future gains could be quite substantial.

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