Bitcoin (BTC) is at the Crossroads: Will the Bears or Bulls Win? Experienced Analyst Who Found the 2022 Bottom Announced the Possible Bear Scenario!

Bitcoin exhibited volatile movements due to the impact of the US CPI and PPI data and the FED interest rate decision announced this week.

Bitcoin, which approached $70,000 after positive data, fell to $67,000 after the FEC decision.

While investors wonder whether the decline will continue, a new prediction came from experienced analyst Peter Brandt, who correctly predicted that Bitcoin will fall to $ 16,000 in 2022.

Sharing his predictions for the BTC price, Brandt made a post that would upset investors.

The master analyst claimed that if the Bitcoin price falls below $ 65,000, the decline will continue and may drop to $ 60,000 or even $ 48,000.

Accordingly, if the Bitcoin price exceeds the $65,000 level, it may drop to $60,000. If the BTC price falls below $60,000, it may make another 20% correction and drop to $48,000.

Peter Brandt also signaled that there may be an increase despite the downward scenario. Brandt, who advised Bitcoin investors to follow the weekly close, said that $ 66,000 is important for the weekly close. According to Brandt’s chart, a close below $66,000 and a break below $65,000 could push BTC to $60,000.

However, Brandt pointed out that there is a possibility that Bitcoin will pump from $ 60,000.

Bitcoin continues to trade at $67,043 at the time of writing.

Chart of interest – Bitcoin $BTC
Sometimes the most obvious interpretations of a chart work out, most of the time the charts morph. But the most obvious is this:
Break through 65,000, then mkt goes to 60,000
Break through 60,000 mkt goes to 48,000 pic.twitter.com/JsXXVx2EhV

— Peter Brandt (@PeterLBrandt) June 13, 2024

*This is not investment advice.