CandleFocus Legendary Analyst Brandt Confirms $240K Bitcoin Target with Rare Technical Indicator
2024-11-11
Author: Content Editor
Bitcoin has surged above $82,000, with analyst Peter Brandt identifying a bullish Inverse Head and Shoulders pattern that could push the cryptocurrency beyond $240,000. Brandt's analysis shows the formation of the left shoulder in mid-2021, the head in early 2022, and the right shoulder in 2024. He compares Bitcoin's trajectory to Gold's rally in 2010, suggesting similar potential for growth. However, investor Alistair Milne anticipates a temporary dip and warns of potential sellers around $95,000. Despite this, sustained interest from institutional and retail investors and a potential decoupling from the stock market could drive further gains for Bitcoin.
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