CandleFocus Peter Brandt Dusts Off Bizarre Chart Pattern Ahead of Possible Bitcoin Advance
2024-12-29
Author: Content Editor
Prominent chartist Peter Brandt suggests that Bitcoin's price pattern is currently following his "Hump Slump Bump Dump Pump" chart construction. The cryptocurrency experienced a rounded peak, followed by a slump and then another bump, reaching an all-time high of $108,135. However, it has since experienced a price dump and is currently trading at $95,055. Brandt's chart indicates that Bitcoin could surge to $112,500 in January. Another trader predicts a bullish scenario with a potential 70% price increase to $160,000 or a bearish scenario with a plunge to $80,000. Fundstrat's Tom Lee also predicts Bitcoin soaring to $250,000 in 2022, while Brandt believes it could go above $150,000 in 2025.
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