Peter Brandt "BTC, Possible decline to $64,000 if 2021 pattern repeats"

American veteran trader Peter Brandt warned that Bitcoin (BTC) is showing a similar trend to 2021, and it could drop to a maximum of $64,000 if the current downtrend continues.

Brandt recently pointed out through his analysis that "if Bitcoin is repeating the price pattern of 2021, there could be a decrease of about 50% from the peak." He particularly explained that the technical indicator RSI (Relative Strength Index) currently shows a level of 52, indicating that the upward momentum has weakened and a downward divergence is being detected.

Additionally, Brandt warned that the inverse Cup and Handle pattern is being confirmed on the Bitcoin chart, and if this pattern is completed, the price may be corrected to the $64,000 line.

He expressed caution about the possibility of a short-term trend change, stating that "this correction has significantly weakened market optimism that was expecting $150,000 by the end of the year." The market is paying attention to Brandt's analysis as one of the major decline scenarios.