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

Odaily News Senior trader and renowned chart analyst Peter Brandt has released his latest technical analysis. He pointed out that the daily chart of Nasdaq 100 Mini Futures is forming a diamond pattern, indicating a potential market top. Regarding Bitcoin, Brandt offered a forecast based on historical cycles: BTC may first rebound by $10,000 before retracing to the $40,000 range and forming the bottom of this cycle around early October 2026. As the current price oscillates near $60,000, he warns of the downside risk from false breakouts. On a long-term basis, he remains optimistic, suggesting that if Bitcoin follows its four-year halving cycle pattern, the price could reach between $300,000 and $500,000 by 2029.