In his assessment, the current price movement structure $BTC corresponds to classical models of technical analysis, which, according to him, the crypto market "executes more consistently than many traditional assets." He noted that the expectations of participants do not have a decisive impact on price dynamics.
"The market is not obliged to correspond to the consensus — it follows the structure. From this perspective, the current phase may end with a deeper correction, down to the level of $49,000," said Brandt.
He linked this level to the zone of previous consolidation, where positions of large participants were formed. A return to these values, in his opinion, may trigger defensive actions from holders $BTC and become the final stage of the current downward movement.
In a broader context, the analyst does not consider a possible decline critical for the long-term trend. According to him, such corrections may reflect a redistribution of positions before the next stage of growth.
Previously, SkyBridge Capital managing partner Anthony Scaramucci suggested that in the fourth quarter, Bitcoin could return to an upward trend.