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Reading: Peter Brandt Analyzes Bitcoin and Altcoins for Potential Growth
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COINTURK NEWS > Cryptocurrency News > Peter Brandt Analyzes Bitcoin and Altcoins for Potential Growth
Cryptocurrency News

Peter Brandt Analyzes Bitcoin and Altcoins for Potential Growth

In Brief

  • Peter Brandt identifies Bitcoin and altcoins signaling potential price increases.

  • Chart patterns suggest upcoming bullish movements for Bitcoin, Ethereum, and Solana.

  • Traders should conduct independent research before making investment decisions.

Fatih Uçar
Fatih Uçar 7 months ago
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Experienced trader Peter Brandt has indicated that Bitcoin (BTC) $101,853, Ethereum (ETH) $2,538, and Solana $170 (SOL) show signals for potential increases. His comments on social media have captured the attention of many. It is essential for traders to conduct their own research, as strategies based on such assessments may lead to losses.

Contents
Bitcoin’s Consolidation ProcessSolana’s Cup and Handle Formation

Bitcoin’s Consolidation Process

Brandt shared a chart showing BTC surpassing its pattern resistance level. However, he noted that Bitcoin must cross the approximately $74,000 threshold to officially enter a bullish territory. Brandt stated, “It continues the seven-month inverted expanding triangle formation. The series of lower highs and lower lows since March 2024 has yet to be violated.”

“Long Bitcoin is my largest speculative position.” – Peter Brandt

Brandt mentioned that Ethereum broke a bullish reversal pattern on the daily chart, indicating that ETH has completed a head and shoulders (H&S) formation. He added, “The ETH closing price chart shows an inverted H&S formation. I do not have a position in ETH.”

Solana’s Cup and Handle Formation

The trader observed that Solana (SOL) exhibits a cup and handle formation. This structure suggests that the asset is taking a pause before potentially rising.

“SOL is likely showing a cup and handle with a rectangle as the handle. I do not have a position in this cryptocurrency.”

Brandt emphasized that Bitcoin, Ethereum, and Solana are currently preparing for the most intriguing chart developments. He also noted other significant charts, including comparisons of Silver with Bitcoin and gold.

Brandt anticipates upward movements in Bitcoin prices, which could positively impact other altcoins. Signals from the three altcoins indicate that tedious days may soon be over.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 24 October, 2024 - 12:30 am 24 October, 2024 - 12:30 am
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