Bitcoin is trading near $89,800 following a week of mild losses. The asset is down slightly in the past 24 hours and 2% over the last 7 days. While the price action remains above the $89,000 mark, technical analysts are raising caution as long-term indicators begin to shift.
Among them, veteran trader Peter Brandt has warned that Bitcoin may be at risk of an extended decline if historical patterns repeat.
Parabolic Breakdown Signals Deeper Correction
Peter Brandt has shared a chart suggesting Bitcoin has broken below its current parabolic trend, similar to previous cycle tops. According to the veteran trader, each of BTC’s bull cycles has ended with a violation of a steep parabolic curve. When these curves broke in the past — in 2011, 2013, 2017, and 2021 — the asset dropped more than 80%.
Bitcoin (BTC) Price Chart 15.12. Source: Peter Brandt/X
Brandt wrote, “The violation of previous parabolas has all declined <80%,” and noted that the current parabolic advance has now be
We współpracy z: https://cryptopotato.com/bitcoin-btc-risks-80-drop-peter-brandt-flags-parabolic-collapse/
