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Veteran Trader Peter Brandt Sees Bitcoin Flashing Bearish Signal, Warns BTC Crashing Below $80,000 a Possibility – The Daily Hodl

21 December 2024
in Altcoin
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Veteran dealer Peter Brandt is warning {that a} bearish sign is flashing for Bitcoin, indicating that BTC would possibly head to a lot decrease costs.

Brandt tells his 763,600 followers on the social media platform X that Bitcoin could also be forming a bearish reversal sample on the each day chart that would result in a dip into the $70,000 vary.

“Hey trolls, this isn’t a prediction. Simply at all times mentioning potentialities, not possibilities, not certainties. No screenshot is important. BTC right-angled broadening triangle may mission again into the $70,000s and a check of the parabolic modality.”

Supply: Peter Brandt/X

Trying on the dealer’s chart, he appears to foretell that BTC could drop to as little as $76,614 if it shatters assist at round $90,000.

Bitcoin is buying and selling for $97,201 at time of writing, up fractionally within the final 24 hours.

Brandt can be warning that Ethereum (ETH) rival Cardano (ADA) could also be printing a head and shoulders sample on the each day timeframe and will plunge if the assist stage at $0.91 fails to carry.

A head and shoulders sample is often thought of a bearish reversal construction in technical evaluation, suggesting that the asset’s uptrend is over.

“Cardano appears to be like like a possible automobile crash.”

Image
Supply: Peter Brandt/X

ADA is buying and selling for $0.95 at time of writing, up 7.2% within the final 24 hours.

Lastly, Brandt means that payments-focused altcoin XRP is printing a bullish continuation sample on the each day chart.

“XRP seems to be resolving a half-mast flag. If that’s the case, distance to the upside ought to equal advance into the tip of flag.”

Image
Supply: Peter Brandt/X

XRP is buying and selling for $2.28 at time of writing, up barely previously day.

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Disclaimer: Opinions expressed at The Day by day Hodl will not be funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your individual threat, and any losses you might incur are your accountability. The Day by day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Day by day Hodl an funding advisor. Please word that The Day by day Hodl participates in affiliate internet marketing.

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Tags: BearishBitcoinBrandtBTCCrashingDailyFlashingHodlPeterPossibilitySeesSignalTraderveteranwarns
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