Trader Peter Brandt: Bitcoin May Bottom at $60,000.00
BlockBeatsNov 4, 2025On 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 to find a bottom.According to Cointelegraph's analysis, $BTC's weekly chart validates a falling wedge pattern, after the price lost support from the pattern's downtrend line at $114,550. Bulls are currently struggling to keep the price above the 50-week Simple Moving Average (SMA), which is currently at $103,300.Other key defenses are the psychological level of $100,000 and the 100-week moving average at $82,000. If Bitcoin's weekly closing price falls below this area, Bitcoin will fall towards the wedge target price of $72,000, a 30% drop from the current price.[律动]
Source
Powered by ChatGPT
All You Need to Know in 10s
Your One-Stop Crypto Investment Powerhouse
Trader Peter Brandt: Bitcoin May Bottom at $60,000.00
BlockBeatsNov 4, 2025On 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 to find a bottom.According to Cointelegraph's analysis, BTC's weekly chart validates a falling wedge pattern, after the price lost support from the pattern's downtrend line at $114,550. Bulls are currently struggling to keep the price above the 50-week Simple Moving Average (SMA), which is currently at $103,300.Other key defenses are the psychological level of $100,000 and the 100-week moving average at $82,000. If Bitcoin's weekly closing price falls below this area, Bitcoin will fall towards the wedge target price of $72,000, a 30% drop from the current price.[律动]
Powered by ChatGPT
Scan QR Code to Explore more key information
One-stop financial research platform for Crypto Investors
00:00 / 00:00
00:0000:0000:00