Legendary trader Peter Brandt has released a bullish chart predicting new all-time highs (ATHs) for Bitcoin (BTC).
The veteran trader shares his “blueprint,” which he says he has been using for about two years, to detail a possible timeline for the King crypto to break the $70,000 level.
Says Brandt,
“Anyone who claims to know the future path of any market is a fool. Markets will ALWAYS surprise.
But with this disclaimer I believe:
1. The BTC bottom has been reached
2. New ATHs won’t arrive until the third quarter of 2024
3. Meanwhile, a Chop Festival
I have been using this blueprint for about two years.”
Brandt divides Bitcoin’s life cycle into bullish impulses, followed by periods of consolidation. He seems to suggest that BTC will break out of its long-term range in mid-2024 and then reach new highs in the third quarter of the year.
Looking to the shorter term, Brandt says Bitcoin’s current momentum has enough strength to reach near $40,000, based on the convincing break above $32,000.
“Post from Discord yesterday, right before the uplift.”
At the time of writing, Bitcoin is trading just below the $35,000 level, a new high for 2023.
Brandt has previously predicted that Bitcoin will eventually become the ruling crypto asset of the space, causing most altcoins to lose their relevance.
“My bias is that Bitcoin will bury all pretenders. Ultimately, there will only be one ‘King of the Hill’, and that will be Bitcoin…
Bitcoin is the old currency and will outlive and surpass all so-called crypto wannabes.”
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Generated image: Midjourney
