Veteran trader Peter Brandt shared a new analysis today suggesting that Bitcoin (BTC) could either rally to $250,000 or correct to $60,000, depending on how current market structures evolve. Brandt’s comments, posted on his official X account, sparked renewed debate over the asset’s next major move.
According to Brandt, Bitcoin’s current price action resembles a “broadening top pattern,” a formation historically seen before significant market reversals. The analyst compared it to the soybean market of the 1970s, which saw a 50% decline after reaching its peak. Despite this bearish pattern, Brandt also acknowledged that a new macro bull cycle could still push BTC toward six figures, especially as institutional inflows remain strong and spot ETF volumes continue to rise.
Traders are now closely watching the $100,000 support zone, with a confirmed breakout or rejection expected to define the next major trend. Brandt said he remains “probability-driven,” treating both scenarios as viable outcomes in a volatile market.
Source: https://x.com/PeterLBrandt/status/1980748150190342222
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