Trader Peter Brandt: Bitcoin May Fall to $60,000 to Bottom Out
律动Nov 4, 2025
On November 4th, renowned trader and chart analyst Peter Brandt, based on the power-law model chart from technical analysis firm JDK Analysis, predicted that Bitcoin may fall to $60,000.00 to bottom out.According to Cointelegraph, $BTC's weekly chart validates a falling wedge pattern, after the price lost support from the pattern's downward trendline at $114,550.00. Bulls are currently struggling to keep the price above the 50-week Simple Moving Average (SMA), which is currently at $103,300.00.Other key defenses are the psychological level of $100,000.00 and the 100-week moving average at $82,000.00. If Bitcoin's weekly closing price falls below this area, Bitcoin will fall towards the wedge target price of $72,000.00, a 30% drop from the current price.[律动]
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Trader Peter Brandt: Bitcoin May Fall to $60,000 to Bottom Out
律动Nov 4, 2025
On November 4th, renowned trader and chart analyst Peter Brandt, based on the power-law model chart from technical analysis firm JDK Analysis, predicted that Bitcoin may fall to $60,000.00 to bottom out.According to Cointelegraph, BTC's weekly chart validates a falling wedge pattern, after the price lost support from the pattern's downward trendline at $114,550.00. Bulls are currently struggling to keep the price above the 50-week Simple Moving Average (SMA), which is currently at $103,300.00.Other key defenses are the psychological level of $100,000.00 and the 100-week moving average at $82,000.00. If Bitcoin's weekly closing price falls below this area, Bitcoin will fall towards the wedge target price of $72,000.00, a 30% drop from the current price.[律动]
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