Famous US trader Peter Brandt analyzed that "if Bitcoin repeats the 2021 pattern, it could drop by about 50%, reaching around $64,000". He stated, "Recent adjustments have significantly dampened expectations that Bitcoin could reach $150,000 by the end of the year. Particularly, Bitcoin's RSI has recorded 52, indicating weakening upward momentum, and a decline divergence similar to 2021 suggests that the bullish cycle may be ending. Additionally, it is important to note that if the currently confirmed inverse cup and handle pattern is completed, it could result in an adjustment to $64,000."
US Trader: "BTC Could Fall to $64,000 If 2021 Pattern Repeats"
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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