Major Bitcoin Move Is Around The Corner

It’s just been reported that there’s a mega Bitcoin move around the corner. Check out the latest reports about the king coin below.

Veteran analyst and technical trader Peter Brandt says Bitcoin (BTC) is likely gearing up for a major move after months of quiet consolidation.

In a new YouTube strategy session with trader Tone Vays, Brandt said that Bitcoin’s technicals are suggesting a “washout” to nearly 30% down from current prices.

Brandt, who predicted Bitcoin’s collapse after its 2017 bull run, says that BTC’s big double top formation last year is a strong prediction of another move down before a reversal.

“If you take the double top that we had in Bitcoin, you take the fact that we penetrated parabola in 2021, you take the descending triangle – all of these things have targets down some $13,000.”

He continued and explained this:

“The double top has a target down there. The descending triangle has a target down there, plus whenever you break a parabola in Bitcoin you have an 80% correction-plus. We’ve had like 75%, 76%. Not that we have to have 80%, but we have had 80%.”

It’s been just revealed that the popular crypto analyst Benjamin Cowen is expressing a bullish outlook for Bitcoin (BTC) over the coming months.

Cowen said recently that Bitcoin could start a bullish reversal later next year ahead of the king coin’s scheduled halving in 2024 and the possible loosening of monetary policies by the Federal Reserve.

“My guess again is I think things will slowly start to turn around and go to neutral sometime in 2023.”

He continued and said this:

“And then as you get later into 2023, I imagine we’ll start to see some bullish signs as the halving will be inside and getting back to probably a more dovish Fed.”

At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $17,703.