While a recovery has been dominant in the leading cryptocurrency Bitcoin (BTC) in recent days, analyst Peter Brandt, who has 50 years of experience, pointed out a new wave of decline.
Peter Brandt quoted a post by an analyst with the nickname HTL-NL via the X account.
The analyst, HTL-NL, pointed to an impending correction for BTC by applying the Wyckoff Method, which helps identify market cycles through supply and demand.
Based on this analysis, the analyst shared a chart showing BTC’s possible collapse to $76,700 or even around $70,000.
Citing this chart and analysis, Peter Brandt noted that this estimate seems reasonable.
This is not an unreasonable expectation https://t.co/8LRVBjBv2A
— Peter Brandt (@PeterLBrandt) March 28, 2025
According to Brandt, while a bearish prediction for Bitcoin would not be an unreasonable expectation considering the current market conditions, Brandt had recently said in an analysis that the Bitcoin chart was in a downward trend following the formation of the double top pattern.
*This is not investment advice.
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