Bitcoin's Surge Stalls: Trader Peter Brandt Predicts $25K Support Level
Bitcoin Price Warning: Veteran trader Peter Brandt has indicated that Bitcoin's growth parabola has broken, suggesting a potential price drop to $25,000, following historical patterns of diminishing returns in bull cycles.
Current Market Trends: Bitcoin's price has recently fluctuated around $89,900 after a drop from a high of $126,000, with over half of the top 100 cryptocurrencies experiencing declines, reflecting a risk-off sentiment among investors.
Historical Context: Each Bitcoin bull cycle has shown diminishing returns, with significant pullbacks occurring after record highs, as seen in previous cycles following halving events.
Market Sentiment: The current market sentiment has shifted to "extreme fear," with indicators showing a preference for larger-cap assets like Bitcoin, while altcoins continue to underperform.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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