Peter Brandt: Nasdaq Futures Form Diamond Top Pattern, Bitcoin May Dip to $40,000 to Form a Bottom

Odaily News Veteran trader and renowned chart analyst Peter Brandt has released his latest technical analysis. He points out that the daily chart of the Nasdaq 100 Mini Futures is forming a diamond pattern, indicating a potential market top. Regarding Bitcoin, Brandt provides a forecast based on historical cycles: BTC may first rebound by $10,000, then pull back to the $40,000 range, and form the bottom of the current cycle around early October 2026. The current price is hovering around $60,000, and investors should be wary of the downside risk from false breakouts. On a long-term timeline, he maintains an optimistic outlook. If Bitcoin continues its four-year halving cycle pattern, its price could reach between $300,000 and $500,000 by 2029.