Legendary Trader Peter Brandt Says Bitcoin Could Crash To $44,000, Here’s Why

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Legendary Trader Peter Brandt Says Bitcoin Could Crash To $44,000, Here’s Why - NewsBTC

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Based on this, JK suggested that it is unlikely that Bitcoin formed a double top since Richard Schabacker (one of the greatest analysts) said that 20% and not less is required for a true double top to form. Brandt seemed to agree with JK’s reasoning, suggesting that it was also possible that a double top hasn’t been completed and that Bitcoin could witness a bullish reversal from its current price range.

He predicted this could happen based on a technical indicator that paints a bearish outlook for the flagship crypto. Why Bitcoin Could Drop To $44,000 Brandt predicted in an X (formerly Twitter) post that Bitcoin could drop to as low as $44,000 if the flagship crypto has completed a double top.

The analyst mentioned that the volume profile is not in line with the technical of a double top as there is usually a high volume for the first peak and a low volume for the second peak. How BTC Could Drop To $44,000 Crypto analyst CrediBULL Crypto recently provided insights into how Bitcoin could drop to the $40,000 range.