Bitcoin Completes ‘End Run,’ Analyst Says – Here’s What It Means

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	371,362,593,069	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

371,362,593,069

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	145.53	4.94%	3,090.78	3,090.95	3,090.99

Price Change

Price Change %

Current Price

Bid Price

Offer

145.53

4.94%

3,090.78

3,090.95

3,090.99

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,122.08	2,932.68	2,943.03	2,945.25	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,122.08

2,932.68

2,943.03

2,945.25

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	18:46:37	0.005002	3,090.99	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

18:46:37

0.005002

3,090.99

USD

Price x Volume	Volume	Base Symbol	Related Pairs
245,328,170.49	80,455.00	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

245,328,170.49

80,455.00

Bitcoin Completes ‘End Run,’ Analyst Says – Here’s What It Means

15/04/2024 5:00pm

NEWSBTC

Bitcoin (BTC) took a nasty spill over the weekend. Plunging to a gut-wrenching $60,850 before staging a partial recovery to hover around $64,500, this sudden price drop has left the crypto community scrambling for answers. Veteran trader Peter Brandt, known for his eagle eye on market patterns, has stepped into the ring to offer his insights, sparking debate about what this means for Bitcoin’s future. Related Reading: CEO Throws Cold Water On May Ethereum ETF Approval – Impact On Price Bitcoin At A Crossroads: The ‘End Run’ Theory Brandt, a seasoned campaigner in the often-unpredictable world of crypto trading, sees the recent price action as a potential turning point. He uses the intriguing term “end run” to describe this pivotal moment. Borrowed from the world of sports, an end run signifies a strategic maneuver designed to bypass obstacles and gain an advantage. In the context of Bitcoin’s recent dip, Brandt suggests it could be a strategic shift in the market dynamics, paving the way for a significant move in either direction. End run completed in Bitcoin $BTC@chartwizardsnft pic.twitter.com/YlHISyT85D — Peter Brandt (@PeterLBrandt) April 13, 2024 Brandt’s analysis hinges on a technical indicator – a symmetrical triangle pattern forming on Bitcoin’s price chart. This pattern often signals a period of consolidation before a breakout, either upwards or downwards. According to technical analysis principles, a breakdown from the bottom trendline of the triangle could usher in a bearish trend, while a breakout from the top could trigger a bullish surge. Brandt’s interpretation of the recent drop as the “end run” implies Bitcoin is poised for a breakout, but the question remains – which direction will it break? Bullish Undercurrent Despite Short-Term Jitters While the immediate future might be shrouded in uncertainty, Brandt maintains a firm belief in Bitcoin’s long-term potential. He has previously predicted Bitcoin reaching a staggering $200,000 by 2025, a testament to his unwavering confidence in the cryptocurrency’s ability to achieve substantial growth. Viewing the current dip as a healthy correction within a larger upward trend aligns with his overall bullish stance on Bitcoin’s trajectory. Total crypto market cap is currently at $2.352 trillion. Chart: TradingView The Crypto Market: A Balancing Act Between Fear And Opportunity The recent Bitcoin price drop and the subsequent analysis from Peter Brandt have exposed the inherent tension within the cryptocurrency market – a constant tug-of-war between fear and opportunity. Related Reading: Toncoin Defies Market Turmoil, Surges 25% To Tally All-Time High – Details Some investors see the dip as a golden buying opportunity, a chance to accumulate Bitcoin at a lower price point in anticipation of a potential bullish breakout. Others, scarred by the crypto market’s notorious volatility, remain cautious, wary of the possibility of further price declines. Featured image from Pexels, chart from TradingView

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

ETHUSD Ethereum