Bitcoin’s Path to $200,000 Faces Challenges, Says Trader
- Bitcoin recently increased to over $97,000 but faces resistance at the $100,000 mark.
- Peter Brandt predicts Bitcoin may struggle to reach $200,000 before 2030.
- The 8-week moving average of $97,633 acts as a significant resistance level.
- The Average True Range (ATR) is at 8,988 and the Average Directional Index (ADI) is at 40.75, indicating market volatility.
- Current trading volume of 245,600 is low compared to previous breakout stages.
Peter Brandt’s analysis suggests that Bitcoin may not reach the $200,000 mark by the end of this decade unless it breaks above its current parabolic trajectory. The cryptocurrency faces strong resistance around $100,000 and needs sustained momentum for higher valuations.
Source (2.6)https://www.newsbtc.com/news/bitcoin/no-200k-bitcoin-brandt-explains-why-its-unlikely-this-decade/?rand=52377
