Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 2785
Markets: 82266
CCT - Crypto Currency Tracker logo CCT - Crypto Currency Tracker logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
Market Cap
24h Vol
2785
Cryptocurrencies
54.38%
Bitcoin Share
NewsBTC 2024-04-19 20:00:20

Bitcoin’s Next Move Revealed: Trading Guru Reveals This Cryptic Chart Pattern, Here’s What It Says

Bitcoin’s Next Move Revealed: Trading Guru Reveals This Cryptic Chart Pattern, Here’s What It Says

Legendary trader Peter Brandt has recently shared notable insights into the potential future trajectory of Bitcoin price, suggesting the possibility of a significant market move for the crypto asset. This insight comes as Bitcoin appears to be recovering slightly from its week-long decline. The asset is up nearly 5% over the past 24 hours, with a current trading price of $64,968 at the time of writing. Related Reading: Bitcoin Halving Hysteria: Will History Repeat Itself Or Are We Heading For A Market Meltdown? Bitcoin Next Move According To This Chart Pattern Brandt’s analysis, presented through a series of charts, outlines a distinctive pattern in Bitcoin’s historical price behavior, characterized by three distinct phases.: the Hump-Slump, Bump-Rump, and Pump-Dump cycles. As per Brandt’s observation, while Bitcoin has completed the initial two phases of the cycle, the third phase, marked by the “pump” component, remains unfulfilled, hinting at potential bullish momentum ahead. What say you?? $btc pic.twitter.com/IDvIpkZeER — Peter Brandt (@PeterLBrandt) April 18, 2024 Meanwhile, amid heightened market volatility and uncertainty, Bitcoin has faced notable price fluctuations, experiencing a nearly 10% decline over the past week. However, recent bullish momentum has seen the cryptocurrency surging by 3.7% in the past 24 hours, with its price briefly climbing above $65,000 after hitting a 24-hour low of $60,000. This upward movement aligns with Brandt’s suggestion of a pending bullish phase in Bitcoin’s price cycle, adding weight to the anticipation of a potential market “pump.” Insights From Industry Leaders And Analysts In addition to Brandt’s analysis, industry leaders and analysts have offered their perspectives on Bitcoin’s future trajectory. Anthony Scaramucci, founder and managing partner of Skybridge Capital, has recently projected a bullish outlook for Bitcoin, forecasting a potential price surge to $200,000 following the upcoming halving event. Scaramucci cited various factors, including the influence of new financial products like spot ETFs and increasing institutional interest, as key drivers behind Bitcoin’s anticipated price appreciation. Related Reading: Bitcoin Could Drop To $52,000 If Price Breaks Below This Mark – CryptoQuant However, amidst optimistic forecasts, CryptoQuant, a prominent crypto analytics platform, has cautioned that Bitcoin could face a significant downturn to $52,000 if its price breaches the critical $60,000 support level. Derivative Uncertainty “If the price breaks below $60,000, we might witness a decline to $52,000 before a subsequent rise.” – By @ShivenMoodley Full post 👇https://t.co/XSBnfexbzZ — CryptoQuant.com (@cryptoquant_com) April 18, 2024 A CryptoQuant analyst particularly noted: If the price breaks below $60,000, we might witness a decline to $52,000 before a subsequent rise. However, given the significant dominance of institutional ETFs, I wouldn’t be surprised if they accumulate excess supply from liquidations near the short-term support level of $60,000. Featured image from Unsplash, Chart from TradingView

Most Read News

Market Cap
24h Vol
54.38%
Bitcoin Share
179
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.