While Bitcoin rose above $ 37,000 again, a new post came from the famous analyst Peter Brandt, who attracted attention with his BTC and cryptocurrency predictions.
Pointing out that a flag formation is forming on the BTC chart, Peter Brandt predicted that Bitcoin could reach $43,289 if this formation is confirmed.
“Another target finding technique for Bitcoin. In case of a flag or pennant pattern on the chart, measure the height of the flagpole and add the same measurement to the last small level inside the flag.”
Here is another targeting technique. In the case of a flag or pennant, measure the flag pole height into the flag and project the same measurement from the last small reaction low within the flag $BTC https://t.co/EylfbXS3CN pic.twitter.com/dXJM6HGnFr
— Peter Brandt (@PeterLBrandt) November 9, 2023
Peter Brandt predicts that if this prediction turns out to be correct and the flag formation is approved, BTC can rise to the level of $ 43,000.
Flag formation appears as graphic formations that occur in the short term and mean the continuation of the trend.
In his previous post, Brandt made a long-term prediction for Bitcoin and said that new ATHs in BTC would not come until the 3rd quarter of 2024.
*This is not investment advice.