Peter Brandt spots 'Horn' pattern: Bitcoin to $90K or $59K?

Peter Brandt spots a rare 'Horn' pattern on Bitcoin’s chart. A breakout above $71,000 could target $80,000–$90,000, but failure may drop Bitcoin to $59,400. Volatility remains high.

Veteran trader Peter Brandt has identified a rare 'Horn' pattern on Bitcoin’s daily chart, referencing Richard W. Schabacker’s 1934 technical analysis. This formation, also called a 'Banana Split,' is characterized by expanding price highs and lows, signaling a period of indecision and heightened volatility. Brandt notes that a breakout above $71,000 could propel Bitcoin toward the $80,000–$90,000 range, with some analysts narrowing the target to $88,000–$90,000. However, he cautions that if the pattern fails, Bitcoin could drop to $59,400. While the 'Horn' pattern often emerges after sharp corrections and is seen as a potential turning point, Brandt emphasizes that significant volatility persists and price movement could occur in either direction.