Why is Bitcoin dropping? $91k Bitcoin price support is critically important to hold. And it’s gone… What happens next for BTC USD price?
The Bitcoin
Bitcoin
2.11%
Bitcoin
BTC
Price
$64,870.58
2.11% /24h
Volume in 24h
$24.79B
Price 7d
market is teetering at what veteran trader Peter Brandt calls a “turning point.” Brandt has flagged a head-and-shoulders setup that is forming on the charts.
This pattern, he says, could define Bitcoin’s next big move, splitting its fate into three potential outcomes. Here’s what will happen next, according to Brandt.
Bitcoin Price Alert: New Head-and-Shoulders Pattern Explained
The inauguration of a pro-Bitcoin U.S. president, who’s been openly discussing a strategic Bitcoin reserve, is one week away – and people are selling Bitcoin 😳
Can someone explain the logic, as I’m 🤔? pic.twitter.com/EKk06Sb55u
— Swiss Hodler 🇨🇭 (@SwissHodler) January 13, 2025
The head-and-shoulders pattern—technical analysis bread and butter—often spells an incoming shift, flipping direction when traders least expect it.
It unfolds with three price peaks—two smaller shoulders straddling a towering head in the middle. Right now, Bitcoin seems to be sketching this ominous pattern. Veteran trader Peter Brandt warns that the fallout could be severe if the formation locks in.
At the time of his analysis, Bitcoin price was trading near $94,625, with the potential for major shifts depending on how the pattern unfolds.
Scenario One: The Bearish Breakdown
Peter Brandt’s conservative outlook paints a grim picture—Bitcoin’s head-and-shoulders setup could drive its value down to $76,000. That’s an 18% slide from where it stands now, a hit no trader wants to see but many are bracing for.
“If Bitcoin breaks below the $90,000 support level, this could signal weakening momentum,” Brandt pointed out in his analysis.
This is a classic H&S top pattern. $BTC H&S patterns can do one of 3 things:
-Complete and trend to target
-Fail with bear trap
-Morph into larger pattern
What do you think?
I am only allowing Verified to reply. If you cannot pay a few bucks to X you don't deserve to be heard. pic.twitter.com/9dGquEXaUs— Peter Brandt (@PeterLBrandt) January 12, 2025
A drop to this level could shake investor confidence, creating a challenging short-term outlook for the cryptocurrency.
Scenario Two: The Bear Trap
An alternate theory from Brandt sees the formation unraveling into a bear trap. A brief dip could bait traders into betting on further losses, only for a sharp reversal to squeeze shorts and increase prices.
“This shakeout often exhausts weak hands, making way for a sharp upward move,” Brandt explained.
This scenario suggests Bitcoin could shake off bearish momentum and climb back toward fresh highs in 2025ntiment and resume its upward trajectory, paving the way for new highs in 2025.
Scenario Three: A Larger, Unpredictable Pattern
But Brandt’s third take throws in a curveball—the pattern could expand into a sprawling consolidation or reversal. It’s not bullish, it’s not bearish—it’s just chaos, the kind crypto traders have come to expect.
Is Bitcoin Screwed Going Into 2025?
For Brandt, market psychology is everything. Bitcoin tends to clear the deck, flushing out weak hands before taking off again.
“Markets typically don’t sustain upward movement until retail exhaustion sets in,” noted Brandt, drawing on years of experience.
Consolidation and downturns lay the groundwork for sustainable moves, not that retail traders care for patience. Brandt frames Bitcoin’s near future as a test of nerves—a potential tumble, a short squeeze, or an uncharted detour, all feeding the market’s relentless appeal.
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