{"id":135235,"date":"2024-08-09T18:30:35","date_gmt":"2024-08-09T15:30:35","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=135235"},"modified":"2024-08-09T16:56:48","modified_gmt":"2024-08-09T13:56:48","slug":"bitcoin-could-drop-below-40k-this-cycle-according-to-veteran-trader","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/bitcoin-could-drop-below-40k-this-cycle-according-to-veteran-trader\/","title":{"rendered":"Bitcoin Could Drop Below $40K This Cycle According to Veteran Trader"},"content":{"rendered":"<p>In a recent update, Brandt indicated that <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin<\/a><\/strong> might drop by over 35% from its current level before the end of next year. He stated, \u201cThere\u2019s a 50% chance BTC could dip below $40,000 before the latter part of the halving cycle.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">It will be my honor to record a video today for <a href=\"https:\/\/twitter.com\/RealVision?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@RealVision<\/a> <a href=\"https:\/\/twitter.com\/RaoulGMI?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@RaoulGMI<\/a> to discuss this chart. I believe there is a 50% chance <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> visits sub-$40k before the last half of the halving plays itself out <a href=\"https:\/\/t.co\/FJGuYKlvXC\" rel=\"nofollow\">pic.twitter.com\/FJGuYKlvXC<\/a><\/p>\n<p>\u2014 Peter Brandt (@PeterLBrandt) <a href=\"https:\/\/twitter.com\/PeterLBrandt\/status\/1821508666526228704?ref_src=twsrc%5Etfw\" rel=\"nofollow\">August 8, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Brandt also <strong><a href=\"https:\/\/x.com\/PeterLBrandt\/status\/1820979019111653779\" rel=\"nofollow\">pointed out<\/a> <\/strong>that Bitcoin\u2019s recent price movement could be forming an inverted right-angled broadening triangle, a pattern reminiscent of the 2020 drop at the start of the Covid-19 pandemic.<\/p>\n<p>This pattern, known as the falling broadening wedge, might eventually lead to a bullish trend if the lower trendline holds as support.<\/p>\n[readmroe id=\u201d135210\u2033]\n<p>The inverted right-angled broadening triangle concept was introduced by Richard W. Schabacker in his 1934 book, Technical Analysis and Stock Market Profits. Brandt believes this pattern could be relevant to Bitcoin\u2019s current chart.<\/p>\n<p>Currently, Bitcoin is priced at $61,306, having risen by 10.7% in the last 24 hours.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Veteran trader Peter Brandt is forecasting a significant drop for Bitcoin (BTC), suggesting there&#8217;s a 50% likelihood it could fall below $40,000 within this market cycle.<\/p>\n","protected":false},"author":3,"featured_media":104933,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[27],"tags":[72,108],"coin_category":[],"class_list":["post-135235","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-price"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ 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