Dip Before therip? Brandt's 50-Year Chart Wisdom Says Bitcoin Must Suffer Before It Soars

Bitcoin ($BTC) decided to take a leisurely stroll down to the $70,000 district, apparently attracted by the charming ambiance of US-Iran tensions. With ceasefire negotiations looking about as stable as a Jenga tower at a frat party, there's a decent probability $BTC might swing by $70,000 once more—though this time arriving from the basement.

Then we have Peter Brandt, the grizzled chart oracle who's been squinting at price movements since before your parents had a 401(k). He's not exactly doing backflips over Bitcoin's current technicals. Brandt reckons $BTC has assembled a "compound fulcrum"—a pattern he originally uncovered on a copper chart from an era when bell-bottoms were high fashion, not ironic throwback material.

For those keeping score at home, this pattern essentially signals consolidation following a downtrend. Plain English: the rocket fuel for blastoff hasn't been loaded yet. We're staring at an extended, sideways bottom-building exercise with breakouts popping up in both directions—definitely not the vertical moon mission moonkids dream about.

So what's the game plan? Brandt thinks Bitcoin might swing by the $60,000 checkpoint it visited back in February. He's tilting toward the tougher route: $BTC probably needs to dip below $66,000 before it can gather enough steam to eventually obliterate $75,000.

The moral of the story? TA is useful, but crypto has a notorious habit of getting blindsided by headline drama, macro shenanigans, and plot twists nobody saw coming.

Bitcoin