Ethereum

2024

Bitcoin

<p>Economist and author Peter Brandt, who stated that he has been trading on the stock market as a trader since 1975, explained his expectations for Bitcoin (BTC) and Ethereum (ETH).</p>
<p>The analyst, who has 50 years of experience, first discussed Bitcoin. Brandt stated that Bitcoin is still in the consolidation phase.</p>
<h2 id="bitcoin-s-direction-not-clear-yet">Bitcoin's Direction Not Clear Yet!</h2>
<p>As Bitcoin continues to struggle towards $60,000, Brandt stated that there is no clear trend yet.</p>
<p>Noting that the weekly and daily Bitcoin charts form a megaphone or expanding triangle formation, the analyst indicated that the upper limit of this pattern is located near the ATH level of $73,835.</p>
<p>According to Brandt's chart, at the lower limit, support is constantly formed between $52,000 and $55,000, preventing significant declines.</p>
<h2 id="what-is-the-megaphone-formation">What is the “Megaphone Formation”?</h2>
<p>The “Megaphone Pattern” is a pattern that usually means that the market is quite volatile and traders are unsure of the market direction.</p>
<p>The megaphone formation is also known as an expanding formation due to the way it is formed.</p>
<p>High volatility and large movements with unclear direction are seen in the asset where this formation is seen.</p>
<p>Accordingly, the experienced analyst thinks that Bitcoin will continue to move between the trend lines in this formation and states that the direction in BTC is not clear yet.</p>
<p>According to this formation, BTC needs to break the upper trend line upwards in order to continue its upward movement.</p>
<h2 id="what-is-the-latest-situation-in-ethereum">What is the Latest Situation in Ethereum?</h2>
<p>Peter Brandt has made many negative comments about Ethereum and likened it to garbage.</p>
<p>The analyst, who thinks that the Ethereum price needs to break $3,050 for it to start rising, said that ETH will remain defensive until a close above $3,050 is achieved.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">Charts of continuing interest are Bitcoin and Ether.<br>Weekly and daily graphs continue to form a megaphone or broadening triangle pattern in BTC<br>No declaration of next trend yet <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a><a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> will remain defensive unless/until close above 3050 occurs <a href="https://t.co/aEESwhX5oC" rel="noopener noreferrer nofollow">pic.twitter.com/aEESwhX5oC</a></p>
 <p>— Peter Brandt (@PeterLBrandt) <a href="https://twitter.com/PeterLBrandt/status/1826013246664618227?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 20, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>*This is not investment advice.</p>
<p><b> Continue Reading: <a href="https://en.bitcoinsistemi.com/50-year-analyst-peter-brandt-reveals-his-bitcoin-btc-and-ethereum-eth-expectations/" rel="noopener noreferrer nofollow">50-Year Analyst Peter Brandt Reveals His Bitcoin (BTC) and Ethereum (ETH) Expectations!</a></b></p>

50-Year Analyst Peter Brandt Reveals His Bitcoin (BTC) and Ethereum (ETH) Expectations!

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