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Peter Brandt: Nasdaq Composite Futures Show a Diamond Top Pattern; Bitcoin, or a Drop to $40,000 to Form a Bottom
Svmuu News: Peter Brandt, a veteran trader and renowned chart analyst, has released his latest technical analysis. He points out that the daily chart for Nasdaq 100 mini futures has formed a diamond pattern, suggesting the possibility of a market top.Regarding Bitcoin, Brandt offers a forecast based on historical cycles: BTC may first rebound to $10,000, then pull back to the $40,000 range, and form the bottom of this cycle in early October 2026;The price is currently fluctuating around $60,000, and investors should be wary of downside risks from false breakouts. He remains optimistic in the long term; if Bitcoin continues to follow the pattern of the past four halving cycles, the price is expected to reach the $300,000 to $500,000 range by 2029.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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