Peter Brandt, known as the “legendary trader”, bitcoin He made a remarkable prediction for the (BTC) price. Brandt says BTC could hit $25,000 believes.
Also known for accurately predicting Bitcoin’s (BYC) crash in 2018 Peter BrandtHe became famous on social media after his prediction. Brandt announced that he recently updated his Bitcoin forecast and said that the price target is the $25,000 band. The analyst took into account a rare formation in this forecast.
the bottom in $BTC is a double walled fulcrum pattern. extremely rare. The 2X target is mid 25’s. pic.twitter.com/NfffzbniO5
— Peter Brandt (@PeterLBrandt) January 29, 2023
NEWS CONTINUES BELOW
Brandt shared more details on his prediction in a TradingView post. Accordingly, the trader warned that Bitcoin (BTC) must quickly reach its set price target of $25,500 or test its foothold, which is around the $15,000 price point.
The price pattern the analyst is relying on is a double-walled fulcrum pattern, which is a rare bottom price pattern. The mentioned formation is a model mostly used by Brandt and not found in general formations.
In addition, the trader’s tweet, in which he shared his prediction today, received mixed responses, including those who made fun of the name of the chart model.
Finally, it is worth noting that Bitcoin (BTC) has had an impressive performance over the weekend, breaking the $22,688 to $23,261 price range, at one point reaching as high as $23,960. Bitcoin bulls will want the asset to find support above the range and continue to move upwards. At press time, the leading crypto is trading at $23,180.
You can follow the current price action here.
Source : the crypto basic