Bitcoin exhibited volatile movements due to the impact of the US CPI and PPI data and the FED interest rate decision announced this week.
Bitcoin, which approached $70,000 after positive data, fell to $67,000 after the FEC decision.
While investors wonder whether the decline will continue, a new prediction came from experienced analyst Peter Brandt, who correctly predicted that Bitcoin will fall to $ 16,000 in 2022.
Sharing his predictions for the BTC price, Brandt made a post that would upset investors.
The master analyst claimed that if the Bitcoin price falls below $ 65,000, the decline will continue and may drop to $ 60,000 or even $ 48,000.
Accordingly, if the Bitcoin price exceeds the $65,000 level, it may drop to $60,000. If the BTC price falls below $60,000, it may make another 20% correction and drop to $48,000.
Peter Brandt also signaled that there may be an increase despite the downward scenario. Brandt, who advised Bitcoin investors to follow the weekly close, said that $ 66,000 is important for the weekly close. According to Brandt's chart, a close below $66,000 and a break below $65,000 could push BTC to $60,000.
However, Brandt pointed out that there is a possibility that Bitcoin will pump from $ 60,000.
Bitcoin continues to trade at $67,043 at the time of writing.
Chart of interest – Bitcoin $BTC
Sometimes the most obvious interpretations of a chart work out, most of the time the charts morph. But the most obvious is this:
Break through 65,000, then mkt goes to 60,000
Break through 60,000 mkt goes to 48,000 pic.twitter.com/JsXXVx2EhV— Peter Brandt (@PeterLBrandt) June 13, 2024
*This is not investment advice.
