Analyst Who Knows Every Step of Bitcoin: This Altcoin Will Drop Hard!

A veteran investor who became a legend in the crypto market after getting Bitcoin (BTC) crashed in 2018 correctly is sounding the alarm on a prominent altcoin project.

Peter Brandt warns altcoin investors

Peter Brandt to his 645,700 Twitter followers that Ethereum has formed a descending triangle, a continuation pattern suggesting more downside risk to ETH told.

Looking at the analyst’s chart, if Ethereum gets support at around $1,750, the bearish pattern could be confirmed. At the time of writing, ETH is struggling to hold near $1,800, fluctuating throughout the day. It did not touch $1,750 during the day.

Peter Brandt is not the only popular analyst on Ethereum

Crypto analyst Cantering Clark also has 134,600 Twitter followers that ETH has kept the market up since March 2021. He said it looks ripe for a sharp drop as it is trading well below its bearish cross support:

If I didn’t think it was a little different this time, I would have looked at this ETH chart and thought ‘Large ships turn slowly and don’t stop easily’. With high timeframe measures, this could be the start of a real momentum drop.

Meanwhile, fellow crypto analyst Credible looks at ETH’s performance against Bitcoin (ETH/BTC). According to Credible, the ETH/BTC pair looks set to lose more than 41% of its value from the current price of 0.060 BTC at $1,785. In a tweet, the analyst said:

ETH/BTC continues to bleed and has hit my target that I outlined almost four months ago. However, BTC has not even started its fifth wave yet, which I expect ETH/BTC to be much lower as BTC pushes the market to the fifth largest from this correction. The revised target is below.

According to Crypto Tony, Bitcoin could lose current levels

Meanwhile, another popular Twitter analyst, Crypto Tony, said that during the day The series tweeted, “The weekly chart on Bitcoin looks terrible and hence the trend continues. “I think we’ve consolidated a bit more in that range before we finally drop out,” he said. In another tweet, he renewed his target of $22,000 to $24,000 for Bitcoin after this forecast drop came true. According to Crypto Tony:

I’m looking for another drop to $24,000 – $22000, but of course deployment takes time. Therefore, we may be navigating these support zones before any dips yet.

Former BitMEX CEO Arthur Hayes among analysts expecting a drop . As Kriptokoin.com he mentioned in a recent blog post about $25,000 expectations in Bitcoin. Hayes also says that Ethereum could reach $10k.