Legendary Trader Peter Brandt Uncovers Major Bitcoin Buy Signal

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As a seasoned crypto investor with over a decade of experience under my belt, I’ve seen my fair share of market fluctuations and expert opinions. However, when it comes to Peter Brandt, his technical analysis is always worth paying attention to. His latest insights on Bitcoin have left me quite intrigued.

Peter Brandt, a well-known trader and technical analysis specialist, recently shared insights on Bitcoin (BTC) price fluctuations. Over the weekend, due to constant activity in the cryptocurrency market, the value of Bitcoin jumped by more than 5.1%, rising from $75,714 to $81,500 per BTC.

As Bitcoin consistently hit new record highs upon record highs, many investors found themselves uncertain about the future and seeking guidance. It was during this time that Brandt shared his enlightening viewpoint on Bitcoin.

In the graph labeled “Major buy signal over the weekend in Bitcoin”, the investor presented his interpretation of a reversed head-and-shoulders formation that started to take shape towards the end of last year.

Major buy signal over the weekend in Bitcoin $BTC

— Peter Brandt (@PeterLBrandt) November 11, 2024

If the observed pattern holds true, Brandt’s interpretation indicates a strong possibility of substantial Bitcoin price increase. This upward trend might potentially surge beyond 300%, starting from the bottom of the 2022 crypto downturn.

According to these calculations, it seems the graph suggests that Bitcoin’s next significant price point could exceed $200,000. This number aligns with the substantial growth experienced in past bullish phases of Bitcoin, a notion that many Bitcoin supporters, including Max Keiser, have frequently predicted as a possibility during a full-blown bull market.

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2024-11-11 19:31