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Peter Brandt, an experienced trader, has rejected optimistic predictions after the recent increase in Bitcoin to $ 97,000+.
His latest technical analysis indicates that the most prominent cryptocurrency can experience difficulty in exceeding the coveted threshold of $ 200,000 before 2030.
Bitcoin has demonstrated a mixed performance, with a daily profit of 0.17% and a decrease of 2.85% during the week, which has put forward the prediction.
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The long -term path to six digits
Bitcoin will face considerable challenges when violating the psychological barrier of $ 100,000. The progressive average of 8 weeks of $ 97,633, which has consistently rejected upward movements, presents the cryptocurrency with considerable resistance.
This thought comes from the world of crazy ideas – a thought, not a profession
Unless Bitcoin escapes speed from the upper parabolic resistance line, it is very unlikely that BTC will act above $ 200k at the end of this decade. Only ☑️ can answer. No interest in non-☑️ replies pic.twitter.com/7A5N7GLIW8– Peter Brandt (@peterlbrandt) February 14, 2025
The average true range (ATR) of 8,988 and the average directional index (ADI) of 40.75, both of which support a strong trend, show increased volatility in current market conditions.
Historical patterns paint a warning story
Since 2012, Bitcoin has developed a distinctive pattern that has established the interest of technical experts. Within a red rising channel, the cryptocurrency bounces between two crucial trend lines that serve as price barriers.
In particular, the tendency of Bitcoin is to both sharp corrections and parabolic movements. Market veterans have increased their antennas due to the striking similarities between the current rally and these earlier cycles.
Trade volume increases red flags
The figures tell an interesting story about how people participate in the market. There is a chance that the current rally is not stable, because the volume total of Bitcoin of 20-Period of 245,600 is low compared to other breakout phases.
Maintaining a long -term upward trend can be a challenge in the absence of a remarkable increase in trade volume. For analysts who look at Bitcoin’s next major movement, this weak volume has been a growing concern.
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Support and resistance: Drawing combat lines
The future of Bitcoin depends on critical price levels that can determine fate. Strong support is available in the range of $ 60,000 to $ 70,000, while a solid resistance zone looms between $ 100,000 and $ 120,000.
If the situation deteriorates, Bitcoin can re -view the lower limit of its long -term channel, which is around $ 40,000 to $ 50,000.
The analysis of Brandt indicates that by 2030 the process of Bitcoin is doubtful in 2030 in the absence of a significant break above the upper limit of its parabolic process.
The lace -up dealer underlines the need for persistent impulse and the ability to exceed critical resistance levels to achieve such increased valuations.
Featured image of Pixabay, graph of TradingView