2024

Bitcoin

Toncoin

April

Bitcoin (BTC) took a nasty spill over the weekend. Plunging to a gut-wrenching $60,850 before staging a partial recovery to hover around $64,500, this sudden price drop has left the crypto community scrambling for answers. 
Veteran trader Peter Brandt, known for his eagle eye on market patterns, has stepped into the ring to offer his insights, sparking debate about what this means for Bitcoin’s future. 
<h2 data-sourcepos="5:1-5:49" id="strong-bitcoin-at-a-crossroads-the-end-run-theory-strong">Bitcoin At A Crossroads: The ‘End Run’ Theory</h2> 
Brandt, a seasoned campaigner in the often-unpredictable world of crypto trading, sees the recent price action as a potential turning point. He uses the intriguing term “end run” to describe this pivotal moment. 
Borrowed from the world of sports, an end run signifies a strategic maneuver designed to bypass obstacles and gain an advantage. In the context of Bitcoin’s recent dip, Brandt suggests it could be a strategic shift in the market dynamics, paving the way for a significant move in either direction. 
<blockquote class="twitter-tweet"> 
 End run completed in Bitcoin <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow">$BTC</a><a href="https://twitter.com/ChartWizardsNFT?ref_src=twsrc%5Etfw" rel="nofollow">@chartwizardsnft</a> <a href="https://t.co/YlHISyT85D" rel="nofollow">pic.twitter.com/YlHISyT85D</a> 
 — Peter Brandt (@PeterLBrandt) <a href="https://twitter.com/PeterLBrandt/status/1779250456935727378?ref_src=twsrc%5Etfw" rel="nofollow">April 13, 2024</a>
</blockquote> 
Brandt’s analysis hinges on a technical indicator – a symmetrical triangle pattern forming on Bitcoin’s price chart. This pattern often signals a period of consolidation before a breakout, either upwards or downwards. 
According to technical analysis principles, a breakdown from the bottom trendline of the triangle could usher in a bearish trend, while a breakout from the top could trigger a bullish surge. Brandt’s interpretation of the recent drop as the “end run” implies Bitcoin is poised for a breakout, but the question remains – which direction will it break? 
<img loading="lazy" decoding="async" class="aligncenter size-full wp-image-603341" src="https://www.newsbtc.com/wp-content/uploads/2024/04/a_49ea86.png?resize=1024%2C593" alt="" width="1024" height="593" srcset="https://www.newsbtc.com/wp-content/uploads/2024/04/a_49ea86.png?resize=1024%2C593?w=1151 1151w, https://www.newsbtc.com/wp-content/uploads/2024/04/a_49ea86.png?resize=1024%2C593?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/04/a_49ea86.png?resize=1024%2C593?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/04/a_49ea86.png?resize=1024%2C593?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/04/a_49ea86.png?resize=1024%2C593?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/04/a_49ea86.png?resize=1024%2C593?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"> 
<h2 data-sourcepos="11:1-11:51" id="strong-bullish-undercurrent-despite-short-term-jitters-strong">Bullish Undercurrent Despite Short-Term Jitters</h2> 
While the immediate future might be shrouded in uncertainty, Brandt maintains a firm belief in Bitcoin’s long-term potential. He has previously predicted Bitcoin reaching a staggering $200,000 by 2025, a testament to his unwavering confidence in the cryptocurrency’s ability to achieve substantial growth. Viewing the current dip as a healthy correction within a larger upward trend aligns with his overall bullish stance on <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener nofollow">Bitcoin’s trajectory.</a> 
<img loading="lazy" decoding="async" class="aligncenter size-full" src="https://www.tradingview.com/x/6kNxQLYy/" width="1835" height="883"> The Crypto Market: A Balancing Act Between Fear And Opportunity 
The recent Bitcoin price drop and the subsequent analysis from Peter Brandt have exposed the inherent tension within the cryptocurrency market – a constant tug-of-war between fear and opportunity. 
Related Reading: <a href="https://www.newsbtc.com/altcoin/toncoin-defies-market-turmoil-surges-25-to-tally-all-time-high-details/" target="_blank" rel="noopener ">Toncoin Defies Market Turmoil, Surges 25% To Tally All-Time High – Details</a> 
Some investors see the dip as a golden buying opportunity, a chance to accumulate Bitcoin at a lower price point in anticipation of a potential bullish breakout. Others, scarred by the crypto market’s notorious volatility, remain cautious, wary of the possibility of further price declines. 
Featured image from Pexels, chart from TradingView

Bitcoin Completes ‘End Run,’ Analyst Says – Here’s What It Means

Зміст

NewsBTC

Інші статті, опубліковані 15 квіт. 2024 р.

Bitcoin, Ether recovers as Hong Kong embraces spot ETFs

Uncover the Explosive Potential: Why BRISE, BEFE, and CENX Will Skyrocket in Value

Dogecoin Flashes Weekly Golden Cross: Why This Analyst Believes The Bull Rally Is Far From Over

Fiji central bank warns against crypto use, disappointing Bitcoin hopes

Bitcoin Battles to Regain Lost Ground After Price Drop

Shortly before the halving, a Bitcoin miner transferred his Bitcoins that he had not touched for ...

Приєднуйтеся до нашої безкоштовної розсилки для отримання щоденних оновлень щодо крипто!