Legendary trader Peter Brandt has come out with a bullish chart that predicts new all-time highs (ATHs) for Bitcoin (BTC).
The veteran trader shares his “blueprint,” which he says he’s been using for about two years, to detail a potential timeline for the king crypto to break the $70,000 level.
Says Brandt,
“Anyone who declares they know the future path of any market is a fool. Markets will ALWAYS surprise.
Yet, with this disclaimer, I believe:
1. The BTC bottom is in
2. New ATHs not coming until Q3 2024
3. Chop fest in the meanwhile
I’ve used this blueprint for approx 2 years.”
Brandt breaks Bitcoin’s lifecycle up into bullish impulses followed by periods of consolidation. He appears to suggest that BTC will break out of its long-term range by mid-2024, and then hit new highs in the third quarter of the year.
Looking at the shorter term, Brandt says that Bitcoin’s current impulse has enough steam to make it near $40,000, based on its convincing break above the $32,000 mark.
“Post from Discord yesterday just prior to the upside thrust.”
At time of writing, Bitcoin is trading just underneath the $35,000 level, a new high for 2023.
Brandt has previously predicted that Bitcoin will ultimately become the ruling crypto asset of the space, knocking out most altcoins from relevancy.
“My bias is that Bitcoin will bury all pretenders. Eventually, there will be only one ‘King of the Hill,’ and it will be Bitcoin…
Bitcoin is the legacy coin and will outlast and out-value all of the make-believe crypto wannabes.”
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Trading Legend Peter Brandt Predicts New Bitcoin (BTC) All-Time Highs – Here’s His Timeline appeared first on The Daily Hodl.
