CandleFocus Brandt Identifies 3 Bullish Bitcoin Targets as BTC Hits 4-Month Peak Above $71K
2024-10-29
Author: Content Editor
Market veteran Peter Brandt has identified three potential bullish price targets for Bitcoin following its recent recovery. The first target is $94,000, based on an inverted expanding triangle pattern on a semi-log scale. The second target is $230,000, calculated by projecting the upward swing from the November 2022 low to the March 2024 high. The third target is $160,000, based on Bitcoin's cycle symmetry and the timing of previous peaks and halvings. Each target suggests a different outlook for Bitcoin's upward trajectory, with the $94,000 target presenting a near-term bullish outlook, the $230,000 target showing the possibility of growth based on historical swing projections, and the $160,000 target aligning with Bitcoin's past performance post-halving.
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