CandleFocus Why a Bitcoin Drop to Around $70K is Possible According to Peter Brandt
2024-12-20
Author: Content Editor
Market veteran Peter Brandt has suggested that Bitcoin could continue to experience a downtrend, with the price potentially falling to around $70,000. Brandt cited an expanding triangle pattern on Bitcoin's daily candle chart, which often indicates market uncertainty. However, Brandt also mentioned the possibility of a reversal to the upside from the current support level of $90,000. Another trader supported this view, arguing that the $90,000 price level could be a good entry point for long positions. At the time of writing, Bitcoin is trading around $95,000 after bouncing from 24-hour lows of $92,200.
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