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Home»ALTCOIN NEWS»Veteran trader Peter Brandt sees Bitcoin flashing bearish signals and warns that BTC is likely to crash below $80,000.
ALTCOIN NEWS

Veteran trader Peter Brandt sees Bitcoin flashing bearish signals and warns that BTC is likely to crash below $80,000.

By Crypto FlexsDecember 21, 20242 Mins Read
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Veteran trader Peter Brandt sees Bitcoin flashing bearish signals and warns that BTC is likely to crash below ,000.
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Veteran trader Peter Brandt is warning that bearish signals are flashing for Bitcoin and that BTC could be headed much lower.

Brandt told his 763,600 followers on social media platform

“Hey trolls, this is not a prediction. Always point to possibilities, not probabilities or certainties. No screenshots required. The BTC right-angled expanding triangle could be projected back to $70,000 to test its parabolic form.”

Source: Peter Brandt/X

Looking at the trader’s chart, he seems to be predicting that BTC could fall to $76,614 if it breaks support at around $90,000.

Bitcoin is trading at $97,201 at the time of writing and has risen slightly over the past 24 hours.

Brandt also warned that Ethereum (ETH) rival Cardano (ADA) could print a head-and-shoulders pattern on the daily time frame and could plunge if the $0.91 support level does not hold.

The head and shoulders pattern is generally considered a bearish reversal structure in technical analysis, indicating the end of an upward trend for an asset.

“Cardano looks like a potential car crash.”

video
Source: Peter Brandt/X

ADA is trading at $0.95 at the time of this writing, up 7.2% in the last 24 hours.

Lastly, Brandt suggests that payments-focused altcoin XRP is showing a bullish continuation pattern on the daily chart.

“XRP appears to be resolving about half of the flags. Then the distance to the top should be equal to advancing to the tip of the flag.”

video
Source: Peter Brandt/X

XRP is trading at $2.28 at the time of this writing, up slightly over the past day.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you will be responsible for any losses you may incur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

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