Crypto Analyst Issues Bitcoin Alert: Possible Downtrend Ahead
Portfolio Pulse from Bibhu Pattnaik
Crypto analyst Peter Brandt warns of a potential bearish trend for Bitcoin, citing an inverted expanding triangle pattern on its chart. If Bitcoin tests the lower boundary, it could drop by 19% to $46,000. However, analyst Ali Martinez offers a more optimistic view, noting Bitcoin's historical performance in October.
September 07, 2024 | 5:16 pm
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Peter Brandt's analysis suggests a potential 19% drop for Bitcoin if it tests the lower boundary of an inverted expanding triangle pattern. This bearish outlook contrasts with Ali Martinez's optimistic view based on historical trends.
Brandt's analysis of Bitcoin's chart pattern indicates a possible bearish trend, with a potential 19% drop if the lower boundary is tested. This is significant for investors as it suggests a short-term price decline. However, the contrasting view from Martinez adds some uncertainty.
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