Bitcoin Price Correction: Peter Brandt Anticipates Downside Test to $46K

IconCryptoNewsTerminal Staff05 Sep, 2024

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Bitcoin Price Correction: Peter Brandt Anticipates Downside Test to $46K

Veteran trader Peter Brandt believes that Bitcoin is currently in a continuation pattern, an expanding triangle or what some call a megaphone. He warns that the next downside test could reach $46,000. Brandt notes that for the bull market to fully regain momentum, a strong thrust above the all-time high will be needed. Notably, Brandt had previously predicted the end of the megaphone pattern and corrective move just 10 days ago.