E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Macroeconomic Factors to Blame for Crypto Crash With More Pain Likely to Come: Coinbase Report

July 6, 2022

Samsung Galaxy M13 series India launch set for July 14

July 6, 2022

CryptoCom CEO Denies Imposing Withdrawal Restrictions

July 6, 2022
Facebook Twitter Instagram
E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel
Facebook Twitter Instagram
E Amazings
You are at:Home»Crypto»Bitcoin Price May Soon Plunge to $13K: Explains Peter Brandt
Crypto

Bitcoin Price May Soon Plunge to $13K: Explains Peter Brandt

Paul EasterBy Paul EasterJune 15, 2022No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter Pinterest WhatsApp Email


Peter Brandt – a veteran derivatives trader – believes that Bitcoin’s price is likely to keep plunging. Meanwhile, the cryptocurrency seems to be at a tipping point, trading slightly above $20K.

Bitcoin’s Price May Go to $13K

Peter Brandt is a well-known derivatives trader with almost 50 years of experience and is also a common cryptocurrency commentator.

Yesterday, he came up with a forecast that the next target for the BTC price might very well be around $13,000 based on a double-top pattern.

img1_peterbrandt_chart
Source: Twitter

To those unaware, a double top is a particularly bearish technical reversal pattern. It forms after an asset manages to reach a high price two consecutive times, spread with a moderate decline between the two.

The pattern is generally considered confirmed once the price falls below a support level that’s equal to the low sitting between the two prior highs.

Bearish Sentiment All-Around

Arthur Hayes – former CEO of BitMEX – also speculated yesterday that $20,000 is a very critical level for Bitcoin.

As far as the charts go, you better get out your Lord Satoshi prayer book and hope the lord shows kindness on the soul of the crypto markets. Bc if these levels break, you might as well shut down your computer because your charts will be useless for a while.

The critical level for Ethereum is $1,000 (according to Hayes), and the cryptocurrency came particularly close of breaking it. As CryptoPotato reported earlier today, there are speculations that one of the largest cryptocurrency hedge funds – Three Arrows Capital (3AC) – is also facing massive on-chain liquidations at around this level, which could propel further selling pressure.

At the time of this writing, bitcoin’s price trades at slightly above $20,000, whereas ETH sits at $1,050.

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.





Source link

Paul Easter

Related Posts

Macroeconomic Factors to Blame for Crypto Crash With More Pain Likely to Come: Coinbase Report

By Paul EasterJuly 6, 2022

CryptoCom CEO Denies Imposing Withdrawal Restrictions

By Paul EasterJuly 6, 2022

SOL Stuck in a Range, Breakout Inbound?

By Paul EasterJuly 6, 2022

Bitcoin Reclaimed $20K Following Extreme Volatility, AVAX Jumps 7% (Market Watch)

By Paul EasterJuly 6, 2022
Add A Comment

Comments are closed.

Our Picks

Macroeconomic Factors to Blame for Crypto Crash With More Pain Likely to Come: Coinbase Report

By Paul EasterJuly 6, 2022

Samsung Galaxy M13 series India launch set for July 14

By Paul EasterJuly 6, 2022

CryptoCom CEO Denies Imposing Withdrawal Restrictions

By Paul EasterJuly 6, 2022
Recent Posts
  • Macroeconomic Factors to Blame for Crypto Crash With More Pain Likely to Come: Coinbase Report July 6, 2022
  • Samsung Galaxy M13 series India launch set for July 14 July 6, 2022
  • CryptoCom CEO Denies Imposing Withdrawal Restrictions July 6, 2022
  • Housing sales in Jan-Jun at 9-year high in top 8 cities; sales see 60 per cent annual growth: Knight Frank July 6, 2022
  • SOL Stuck in a Range, Breakout Inbound? July 6, 2022
  • Bajaj Auto looks to sell Chetak from 75 locations in current fiscal July 6, 2022
  • 3D Print Your Own Multi-Color Filament July 6, 2022
Archives
  • July 2022
  • June 2022
Facebook Twitter Instagram Pinterest TikTok
  • Home
© 2022 E Amazings - All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.