Famous Investor Peter Brandt Shared Bitcoin’s (BTC) New Lows and Highs!

Experienced investor Peter Brandt, Bitcoin (BTC) it thinks it is forming a bullish chart pattern on higher timeframes.

In a tweet yesterday, Brandt shared his bullish outlook for Bitcoin in response to recent price movements.

Peter Brandt Shares Super Bullish Outlook for Bitcoin (BTC)

While stating that no one knows what the market will do and this is his own prediction, the analyst, who shared his weekly and monthly chart, shows that Bitcoin potentially creates an inverse head and shoulders chart formation.

Any idiot can make wild guesses about markets, so here is my dunce-hat prediction. In reality, nobody has a clue what any given market will do. $BTC pic.twitter.com/bpP2ThjnZK

— Peter Brandt (@PeterLBrandt) January 15, 2023

In the short term, the veteran sees a rise to around $25,000 before the asset’s price pulls back and retests the potential neckline to complete the pattern. Specifically, Brandt set the neckline support at about $18,387.5.

In the long term, Brandt predicts that the asset will rise as high as $50,000 in 2023, and after falling below $34,000, it will rise above $100,000 in 2024.

According to Brandt’s analysis, we’ve already seen the bottom of this cycle. This means that we will no longer see the drop to $13,000, the analyst’s latest net bottom prediction.

It should be noted that Brandt is not the only analyst to defend this bullish rhetoric. Prominent analyst and verified CryptoQuant author Maartunn shared a similar analysis hours before Brandt.

Describing Bitcoin’s recent price action as a range recovery, Maartunn set a target of $60,000 on the weekly chart, warning that a decisive break below the set range would invalidate the setup.

It is noteworthy that this range support is the same as Brandt’s neckline and is in the same price range.

*Not investment advice.