Veteran commodities trader Peter Brandt has issued a stark warning for Bitcoin, identifying a technical "broadening top" pattern that could signal a deep correction. Brandt suggests that Bitcoin's recent failure to maintain momentum above $93,000 has made it vulnerable.
Brandt’s analysis points to potential support levels at $81,000 and $58,000. He cautioned that if the current parabolic structure is fully violated, Bitcoin could face a significant decline, potentially dropping 35% to 80% from its recent highs depending on the market's reaction at key resistance zones.
Keywords: Bitcoin Price Prediction|BTC