Peter Brandt, a seasoned trader, has dismissed optimistic predictions in the wake of Bitcoin’s recent increase to $97,000+. His latest technical analysis indicates that the most prominent cryptocurrency may encounter difficulty in surpassing the coveted $200,000 threshold prior to 2030. Bitcoin has demonstrated a mixed performance, with a daily gain of 0.17% and a 2.85% decline over the course of the week, prompting the forecast. Related Reading: XRP To 3 Digits? The ‘Signs’ That Could Confirm It, Basketball Analyst Says The Protracted Path To Six Figures Bitcoin will face significant challenges in breaching the psychological barrier of $100,000. The 8-week moving average of $97,633, which has consistently rejected upward movements, presents the cryptocurrency with significant resistance. From the world of crazy ideas comes this thought – a thought, not a trade Unless Bitcoin has escape velocity through upper parabolic resistance line it’s very unlikely that BTC will be trading above $200k at the end of this decade. Only☑️can reply. No interest in non- ☑️replies pic.twitter.com/7a5N7Gliw8 — Peter Brandt (@PeterLBrandt) February 14, 2025 The Average True Range (ATR) of 8,988 and the Average Directio ..
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