Bitcoin Price Below $95,000: Peter Brandt’s “New” Strategy Draws Parallels to 2018

Bitget App

Trade smarter

Bitget

News

BeInCrypto2024/12/29 13:30

By:Aaryamann Shrivastava

Bitcoin trades at $94,224 with parallels to a 2018 pattern. Securing $95,668 support is critical to avoid further losses and regain momentum.

Bitcoin (BTC) continues to struggle with sideways movement, keeping the cryptocurrency from reclaiming $100,000 as a support level.

Amid this price action, veteran trader Peter Brandt has highlighted a similarity to Bitcoin’s 2018 pattern, sparking speculation about the next move for the crypto king.

Bitcoin Strategy Reinvented

Peter Brandt noted that Bitcoin resembles an old 2018 pattern, which occurred before BTC broke its Parabolic Advance. The pattern, known as BHLD (Bump, Lump, Hump, Dump), has a derivative called Hump-Slump-Pump-Dump, which appears to align with Bitcoin’s current trajectory and could be its next trajectory.

“If you are a Bitcoiner, take a look at this post from several years ago. It describes the famous Hump Slump Bump Dump Pump chart construction in $BTC. Same thing could be happening now,” Brandt stated.

Bitcoin Price Below $95,000: Peter Brandt’s “New” Strategy Draws Parallels to 2018 image 0

Bitcoin Pattern. Source: Peter Brandt

Bitcoin’s macro momentum, as reflected in the Fear and Greed Index, is transitioning from Extreme Greed to a lower greed zone. Historically, BTC has corrected sharply during phases of extreme greed, making this shift a relatively positive sign for stabilizing its price.

The current greed level indicates potential for recovery as long as it doesn’t escalate into excessive selling pressure. While selling remains a possibility, the moderation in market sentiment could provide Bitcoin with a window for short-term gains.

Bitcoin Price Below $95,000: Peter Brandt’s “New” Strategy Draws Parallels to 2018 image 1

Bitcoin Fear and Green Index. Source: Glassnode

BTC Price Prediction: Securing Support

Bitcoin is trading at $94,224, attempting to secure $95,668 as a support level. For this to happen, investors must resist booking profits, enabling BTC to stabilize and recover lost momentum.

Should Bitcoin reclaim $100,000 as support, it could signal a short-term bullish trend. This would help BTC recover its recent losses and potentially resume its upward trajectory, strengthening investor confidence.

Bitcoin Price Below $95,000: Peter Brandt’s “New” Strategy Draws Parallels to 2018 image 2

Bitcoin Price Analysis. Source: TradingView

Conversely, failure to hold $95,668 could lead Bitcoin to drop further, testing support at $89,800. Such a decline would invalidate the bullish outlook and push BTC’s recovery timeline into January 2025, prolonging uncertainty for investors.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops

Lock your assets and earn 10%+ APR

Lock now!

1. **Challenges in the Creator Economy**: Web2 content platforms suffer from issues such as opaque algorithms, non-transparent distribution, unclear commission rates, and high costs for fan migration, making it difficult for creators to control their own data and earnings. 2. **Integration of AI and Web3**: The development of AI technology, especially AI Avatar technology, combined with Web3's exploration of the creator economy, offers new solutions aimed at breaking the control of centralized platforms and reconstructing content production and value distribution. 3. **Positioning of the TwinX Platform**: TwinX is an AI-driven Web3 short video social platform that aims to reconstruct content, interaction, and value distribution through AI avatars, immersive interactions, and a decentralized value system, enabling creators to own their data and income. 4. **Core Features of TwinX**: These include AI avatar technology, which allows creators to generate a learnable, configurable, and sustainably operable "second persona", as well as a closed-loop commercialization pathway that integrates content creation, interaction, and monetization. 5. **Web3 Characteristics**: TwinX embodies the assetization and co-governance features of Web3. It utilizes blockchain to confirm and record interactive behaviors, turning user activities into traceable assets, and enables participants to engage in platform governance through tokens, thus integrating the creator economy with community governance.

BlockBeats•2025/11/22 11:23

Empowered by AI Avatars, How Does TwinX Create Immersive Interaction and a Value Closed Loop?

Aster CEO explains in detail the vision of Aster privacy L1 chain, reshaping the decentralized trading experience

Aster is set to launch a privacy-focused Layer 1 (L1) public chain, along with detailed plans for token empowerment, global market expansion, and liquidity strategies.

BlockBeats•2025/11/22 11:22