Peter Brandt posts cryptic message regarding Bitcoin – predicting new low levels for BTC price

Peter Brandt, a veteran trader and analyst, tweeted Christmas greetings to his 690,400 followers on Thursday. However, it was an encrypted message related to bitcoin. Brandt published a Bitcoin price chart that featured a Christmas tree and a Merry Christmas message.

As you can see, the base of the tree is below $10,000 at about $9,600, but the star tops out at $120,000. Its followers see this as predicting when Bitcoin will bottom and when it will make a new all-time high. Nothing is certain, however, because Brandt did not explain the tweet further.

The trader previously predicted in October that Bitcoin’s price drop would see it bottom around the $13,000 mark. Brandt was initially pessimistic but has since voiced hope, noting that while an abrupt price drop is unlikely, he expects a downtrend before the situation improves.

Brandt warned investors a week ago that a negative trend was building on Bitcoin’s daily chart. Brandt calls this pattern on the chart “the three blind mice,” but it’s a dead signal for the three black crows.

It is important to note that this pattern is negative and indicates the completion of a rally. Long thin bearish candlesticks create this pattern when sellers are in control of the market for three consecutive days.

The cryptocurrency industry has been inundated with analysts making frantic predictions about Bitcoin’s future direction. They were mostly optimistic, but some of them accurately predicted that the price of the king’s cryptocurrency would fall below $20,000 per coin.

At the time of writing, the most prominent digital asset is trading at $16,853, up nearly 0.01% over the last 24 hours. It hit an all-time high of $69,000 in 2021, but is now selling at a price about 60% below its Jan. 1 close of $47,838.

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