{"id":136875,"date":"2024-09-06T20:00:51","date_gmt":"2024-09-06T17:00:51","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=136875"},"modified":"2024-09-06T15:42:36","modified_gmt":"2024-09-06T12:42:36","slug":"bitcoin-at-risk-of-46000-drop-expert-warns-of-major-price-shift","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/bitcoin-at-risk-of-46000-drop-expert-warns-of-major-price-shift\/","title":{"rendered":"Bitcoin at Risk of $46,000 Drop: Expert Warns of Major Price Shift"},"content":{"rendered":"<p>This fresh wave of instability has sparked a search for expert opinions to make sense of the current situation. Renowned trader Peter Brandt, who has been a fixture in the financial world since the 1970s, has offered his analysis on <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin&#8217;s<\/a><\/strong> trajectory.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">This is called an inverted expanding triangle or a megaphone. A test of the lower boundary would be to 46,000 or so. A massive thrust into new ATHs is required to get this bull market back on track <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\">$BTC<\/a><br \/>\nSelling is stronger than buying in this pattern <a href=\"https:\/\/t.co\/ekDZUJXXgd\" target=\"_blank\">pic.twitter.com\/ekDZUJXXgd<\/a><\/p>\n<p>\u2014 Peter Brandt (@PeterLBrandt) <a href=\"https:\/\/twitter.com\/PeterLBrandt\/status\/1831778258607862057?ref_src=twsrc%5Etfw\" target=\"_blank\">September 5, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Brandt has observed what he describes as an &#8220;inverted expanding triangle&#8221; or &#8220;megaphone&#8221; pattern in Bitcoin&#8217;s price chart. This pattern suggests that Bitcoin could potentially drop to around $46,000, given its current price of $55,500.<\/p>\n<p>If this pattern holds true, a 17% decrease could be on the horizon. On the other hand, Brandt highlights that for a significant bullish turnaround, Bitcoin would need to reach approximately $74,000.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/u-s-bitcoin-etfs-continue-outflows-losing-211-million\/\" title=\"U.S. Bitcoin ETFs Continue Outflows, Losing $211 Million\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/etf-bitcoin-1-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">U.S. Bitcoin ETFs Continue Outflows, Losing $211 Million<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>This represents a 32% increase from its current value, which Brandt sees as crucial for a positive shift in market dynamics.<\/p>\n<p>In summary, Brandt indicates that the current market is more influenced by selling pressure than buying interest, and the extent of this trend will become clearer in the near future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Thursday&#8217;s crypto market witnessed a significant shake-up, with $100 million in liquidations recorded in just one day, primarily impacting long positions.<\/p>\n","protected":false},"author":3,"featured_media":132367,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[27],"tags":[],"class_list":["post-136875","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin at Risk of $46,000 Drop: Expert Warns of Major Price Shift<\/title>\n<meta name=\"description\" content=\"Thursday&#039;s crypto market witnessed a significant shake-up, with $100 million in liquidations recorded in just one day, primarily...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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