The major cryptocurrency Bitcoin (BTC) continues to exist on the agenda across the crypto sector, which has come with its decline, but legendary analyst Peter Brandt has analyzed the recent decline.
Peter Brandt, an analyst with 50 years of experience, shared his latest analysis of Bitcoin.
Brandt argued that the recent decline in Bitcoin is merely a retest of the reverse head and shoulder pattern.
This reverse head and shoulder pattern (H&S pattern) was completed in November 2024, just before Bitcoin broke new historical records.
According to experienced analysts, such a pullback looks like a natural part of the bullish process, but Brandt also warned that the rally wasn’t a completely smooth sailing.
Peter Brandt pointed to an upward trend, but said there was only one thing to question what will happen next with Bitcoin.
This one, he said, has to do with a parabolic uptrend from the November 2022 low being violated multiple times.
According to a chart shared by Brandt, BTC has violated this parabolic trend about seven times, so Brandt suspects an uptrend and expects a possible correction.
Grok analyzes Peter Brandt’s Bitcoin share!
X users asked about Elon Musk’s artificial intelligence robot and what the Brandt post means.
If Brandt’s analysis is correct, it says that Bitcoin’s price could rise to $100,000.
Peter Brandt’s Bitcoin analysis suggests that the recent price decline could be a retest of the bullish pattern (reverse head and shoulder) from November 2024. However, he is unsure as the key uptrends from November 2022 are already broken and indicate that there is a possibility of corrections. “Double Top” on the chart increases the risk of downtrends. In short, it’s a choice between a big gathering and a deeper decline.
Summary: Brandt sees Bitcoin’s decline as a retest of uptrends ($100,000 potential), but is unsure because of the broken trend. “Double Top” indicates a correction. ”
@Mamba49ers @PeterlBrandt Peter Brandt’s Bitcoin analysis suggests that the recent price drop could be a retest of the bullish pattern (reverse head and shoulder) from November 2024, suggesting a $100,000 increase if held. However, he is not sure as the important upward trend from November 2022 has broken down…
-Grok (@grok) April 9, 2025
*This is not investment advice.
