{"id":86226,"date":"2023-10-26T12:18:00","date_gmt":"2023-10-26T09:18:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=86226"},"modified":"2025-09-13T04:12:40","modified_gmt":"2025-09-13T01:12:40","slug":"peter-brandt-urges-bitcoin-traders-to-brace-for-a-chop-fest","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/peter-brandt-urges-bitcoin-traders-to-brace-for-a-chop-fest\/","title":{"rendered":"Peter Brandt urges Bitcoin traders to brace for a chop-fest"},"content":{"rendered":"<p>Bitcoin has bottomed, but ahead lies a &#8220;festival of swings&#8221;. This was stated by the technical analyst and head of Factor LLC Peter Brandt.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Anyone who declares they know the future path of any market is a fool. Markets will ALWAYS surprise.<\/p>\n<p>Yet, with this disclaimer, I believe:<br \/>1. The <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> bottom is in<br \/>2. New ATHs not coming until Q3 2024<br \/>3. Chop fest in the meanwhile<\/p>\n<p>I&#8217;ve used this blueprint for approx 2 years <a href=\"https:\/\/t.co\/hVt0zbTOsm\">pic.twitter.com\/hVt0zbTOsm<\/a><\/p>\n<p>\u2014 Peter Brandt (@PeterLBrandt) <a href=\"https:\/\/twitter.com\/PeterLBrandt\/status\/1717175571577516272?ref_src=twsrc%5Etfw\">October 25, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The expert urged not to count on a new <span data-descr=\"historical maximum\" class=\"old_tooltip\">ATH<\/span> until Q3 2024. Traders should prepare for a &#8220;volatile battle&#8221;.<\/p>\n<p>Brandt noted that his analysis was based on the weekly <a href=\"https:\/\/ru.wikipedia.org\/wiki\/%D0%A0%D1%8D%D0%BD%D0%BA%D0%BE_(%D0%B3%D1%80%D0%B0%D1%84%D0%B8%D0%BA)\">\u0440\u044d\u043d\u043a\u043e<\/a> chart.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;There are very few false signals \u2014 by my count, only five misses in the last five years. The most recent trigger was a buy at $22,000. I allocate a portion of my Bitcoin investments to following this chart,&#8221;<\/em> he explained.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin chart I most trust <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> is the weekly Renko graph. Very few fake out moves \u2014 by my count, only 5 miscues in the past five years. The most recent signal was a buy at 22,000. I allocate a portion of my Bitcoin investing to this chart<br \/>What would be your ONE &#8220;go-to&#8221; chart? <a href=\"https:\/\/t.co\/u0sxoSHgT5\">pic.twitter.com\/u0sxoSHgT5<\/a><\/p>\n<p>\u2014 Peter Brandt (@PeterLBrandt) <a href=\"https:\/\/twitter.com\/PeterLBrandt\/status\/1717260294412734520?ref_src=twsrc%5Etfw\">October 25, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Analyst and founder of MN Trading Micha\u00ebl van de Poppe noted that Bitcoin&#8217;s price hit the upper bound of a three-day range near $35 000. In his view, a breakout of this level would move toward $37 000. For altcoins, a period of consolidation would be preferable, he added.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc=twsrc%5Etfw\">#Bitcoin<\/a> challenging itself around the range-highs. <\/p>\n<p>Breakout above and we&#8217;ll see $37K, but for <a href=\"https:\/\/twitter.com\/hashtag\/Altcoins?src=hash&#038;ref_src=twsrc%5Etfw\">#Altcoins<\/a> you&#8217;d rather have a period of sideways consolidation. <a href=\"https:\/\/t.co\/HRAjrUTDid\">pic.twitter.com\/HRAjrUTDid<\/a><\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1717422529629900958?ref_src=twsrc%5Etfw\">October 26, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The trader going by the handle Titan of Crypto pointed to Bitcoin&#8217;s breakout from the &#8220;Indecision Zone&#8221;. To clear the second resistance, it took 39 weeks for the digital gold.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc=twsrc%5Etfw\">#Bitcoin<\/a> Escaped from the Indecision Zone. ?<\/p>\n<p>As expected, <a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&#038;ref_src=twsrc%5Etfw\">#BTC<\/a> exited the Indecision Zone. <br \/>It took 39 weeks for Bitcoin to break the 2nd resistance.<\/p>\n<p>? <a href=\"https:\/\/t.co\/D7jGj9PzQH\">pic.twitter.com\/D7jGj9PzQH<\/a><\/p>\n<p>\u2014 Titan of Crypto (@Washigorira) <a href=\"https:\/\/twitter.com\/Washigorira\/status\/1717196336573903352?ref_src=twsrc%5Etfw\">October 25, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Analyst Willy Woo noted the continuation of the trend of shrinking exchange balances [signalling a decrease in selling pressure].<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Available <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc=twsrc%5Etfw\">#Bitcoin<\/a> on exchanges continue to dwindle. <a href=\"https:\/\/t.co\/9YrByAKUol\">pic.twitter.com\/9YrByAKUol<\/a><\/p>\n<p>\u2014 Willy Woo (@woonomic) <a href=\"https:\/\/twitter.com\/woonomic\/status\/1717218569036157010?ref_src=twsrc%5Etfw\">October 25, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As noted by Glassnode analysts, Bitcoin <a href=\"https:\/\/u1f987.com\/en\/news\/glassnode-bitcoin-clears-a-string-of-key-resistance-levels\"> key barriers<\/a> near $28 000, both technical and on-chain in nature.<\/p>\n<p>Earlier, analysts, based on an assessment of capital flows between hodlers and speculators, concluded that Bitcoin&#8217;s current market structure bears similarity to <a href=\"https:\/\/u1f987.com\/en\/news\/analysts-outline-features-of-bitcoin-price-recovery\"> phases of recovery after bear dominance<\/a> in 2016 and 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin has bottomed, but ahead lies a &#8220;festival of swings&#8221;.<\/p>\n","protected":false},"author":1,"featured_media":86227,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1145,1138,1253],"class_list":["post-86226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-market-analysis","tag-opinions","tag-technical-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/86226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=86226"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/86226\/revisions"}],"predecessor-version":[{"id":86228,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/86226\/revisions\/86228"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/86227"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=86226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=86226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=86226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}