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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Bitcoin’s Next Move Revealed: Trading Guru Reveals This Cryptic Chart Pattern, Here’s What It Says

Samuel Edyme
Samuel Edyme
11 months ago
3 mins read
Bitcoin (BTC)

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Legendary trader Peter Brandt has recently shared notable insights into the potential future trajectory of Bitcoin price, suggesting the possibility of a significant market move for the crypto asset.

This insight comes as Bitcoin appears to be recovering slightly from its week-long decline. The asset is up nearly 5% over the past 24 hours, with a current trading price of $64,968 at the time of writing.

Related Reading

Bitcoin (BTC)

Bitcoin Halving Hysteria: Will History Repeat Itself Or Are We Heading For A Market Meltdown?

11 months ago

Bitcoin Next Move According To This Chart Pattern

Brandt’s analysis, presented through a series of charts, outlines a distinctive pattern in Bitcoin’s historical price behavior, characterized by three distinct phases.: the Hump-Slump, Bump-Rump, and Pump-Dump cycles.

As per Brandt’s observation, while Bitcoin has completed the initial two phases of the cycle, the third phase, marked by the “pump” component, remains unfulfilled, hinting at potential bullish momentum ahead.

What say you?? $btc pic.twitter.com/IDvIpkZeER

— Peter Brandt (@PeterLBrandt) April 18, 2024

Meanwhile, amid heightened market volatility and uncertainty, Bitcoin has faced notable price fluctuations, experiencing a nearly 10% decline over the past week.

However, recent bullish momentum has seen the cryptocurrency surging by 3.7% in the past 24 hours, with its price briefly climbing above $65,000 after hitting a 24-hour low of $60,000.

Bitcoin (BTC) price chart on TradingView
BTC price is moving sideways on the 4-hour chart. Source: BTC/USDT on TradingView.com

This upward movement aligns with Brandt’s suggestion of a pending bullish phase in Bitcoin’s price cycle, adding weight to the anticipation of a potential market “pump.”

Insights From Industry Leaders And Analysts

In addition to Brandt’s analysis, industry leaders and analysts have offered their perspectives on Bitcoin’s future trajectory.

Anthony Scaramucci, founder and managing partner of Skybridge Capital, has recently projected a bullish outlook for Bitcoin, forecasting a potential price surge to $200,000 following the upcoming halving event.

Scaramucci cited various factors, including the influence of new financial products like spot ETFs and increasing institutional interest, as key drivers behind Bitcoin’s anticipated price appreciation.

Related Reading

Bitcoin (BTC)

Bitcoin Could Drop To $52,000 If Price Breaks Below This Mark – CryptoQuant

11 months ago

However, amidst optimistic forecasts, CryptoQuant, a prominent crypto analytics platform, has cautioned that Bitcoin could face a significant downturn to $52,000 if its price breaches the critical $60,000 support level.

Derivative Uncertainty

“If the price breaks below $60,000, we might witness a decline to $52,000 before a subsequent rise.” – By @ShivenMoodley

Full post 👇https://t.co/XSBnfexbzZ

— CryptoQuant.com (@cryptoquant_com) April 18, 2024

A CryptoQuant analyst particularly noted:

If the price breaks below $60,000, we might witness a decline to $52,000 before a subsequent rise. However, given the significant dominance of institutional ETFs, I wouldn’t be surprised if they accumulate excess supply from liquidations near the short-term support level of $60,000.

Featured image from Unsplash, Chart from TradingView

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Samuel Edyme
Samuel Edyme

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Read more

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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