{"id":165038,"date":"2023-09-29T12:32:17","date_gmt":"2023-09-29T07:02:17","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=165038"},"modified":"2023-09-29T12:32:17","modified_gmt":"2023-09-29T07:02:17","slug":"veteran-trader-reveals-bullish-bitcoin-signal-finally-time-to-enter-btc-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/veteran-trader-reveals-bullish-bitcoin-signal-finally-time-to-enter-btc-crypto-news\/","title":{"rendered":"Veteran Trader Reveals Bullish Bitcoin Signal; Finally Time To Enter BTC? – Crypto News"},"content":{"rendered":"

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Bitcoin<\/span> exhibited modest gains this week, comfortably nestled within a well-established trading range. What\u2019s especially remarkable is the cryptocurrency\u2019s apparent departure from historical norms as it inches towards a positive conclusion for September<\/span><\/a>\u2014a month traditionally less favorable for cryptocurrencies.<\/span><\/p>\n

That said, amid these events, seasoned market veteran Peter Brandt<\/span><\/a>, shed light on a potentially bullish indicator amidst as \u201cUptober\u201d nears.<\/span><\/p>\n

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Are the BTC Bulls Awaken?<\/b><\/h2>\n

In a tweet late Thursday, Brandt noted, <\/span><\/p>\n

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\u201cBitcoin $BTC Lowest ADX reading since July 2020. Second retest of underlying H&S bottom. Small 6-week inverted H&S is possible now. Might the bull be awoken? Thoughts?\u201d<\/i><\/span><\/p>\n<\/blockquote>\n

\"Bitcoin
Bitcoin Head and shoulders | Source: Twitter<\/figcaption><\/figure>\n

Notably, Brandt\u2019s tweet placed several key elements under the spotlight. Firstly, he pointed out the \u201clowest ADX reading since July 2020,\u201d signifying a decrease in overall market strength. Secondly the pundit raised the possibility of a \u201csmall 6-week inverted head and shoulder (H&S) pattern<\/span><\/a> forming. <\/span><\/p>\n

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Notably such patterns often serve as potential indicators of imminent trend reversals, suggesting a short-term shift towards a bullish sentiment. If the H$S pattern works out, BTC\u2019s price is poised to surge to the $30,000 range.<\/span><\/p>\n

Other BTC Price Predictions<\/b><\/h2>\n

Meanwhile Brandt\u2019s analysis isn\u2019t the only one painting a positive picture for Bitcoin. Gareth Soloway, the founder of verified investing.com, also expressed optimism about BTC surging in coming weeks. In a video<\/span><\/a>, Soloway mentioned the possibility of a \u201cHead and Shoulders pattern\u201d emerging, particularly if specific conditions, such as the approval of a Bitcoin exchange-traded fund (ETF),<\/span><\/a> materialize. <\/span><\/p>\n

However, it\u2019s crucial to note that his wasn\u2019t an inverted Head and Shoulders pattern, which usually implies further price drops. Soloway further stressed the importance of specific price levels stating that to validate the pattern, the \u201cshoulder\u201d must stay below the previous high around $32,000. If Bitcoin\u2019s price exceeds this and holds for seven consecutive trading days, it suggests a different scenario. <\/span><\/p>\n

The pundit went on to cautioned that if the Head and Shoulders pattern does take shape, the potential downside target<\/span><\/a> could be around $20,000. <\/span>That said, BTC, witnessed a 2.22 % increase over the past 24 hours, and was trading at $27,076 at press time. <\/span><\/p>\n

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\u2713 Share:<\/p>\n

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Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO’s in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114<\/a> and reach out to him at sunil (at) coingape.com <\/p><\/div>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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Bitcoin exhibited modest gains this week, comfortably nestled within a well-established trading range. What\u2019s especially remarkable is the cryptocurrency\u2019s apparent departure from historical norms as it inches towards a positive conclusion for September\u2014a month traditionally less favorable for cryptocurrencies. That said, amid these events, seasoned market veteran Peter Brandt, shed light on a potentially bullish […]<\/p>\n","protected":false},"author":2,"featured_media":165039,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-165038","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/165038","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=165038"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/165038\/revisions"}],"predecessor-version":[{"id":165041,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/165038\/revisions\/165041"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/165039"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=165038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=165038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=165038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}