When Bitcoin reached a record high above $100,000, the next key milestone would be $200,000. However, experienced trader Peter Brandt ruled out such a possibility in the coming years.
In his opinion, it is unlikely that BTC will trade above $200,000 by the end of the decade unless it can overcome a critical resistance level.
Brandt highlighted key technical formations that shaped Bitcoin's previous price movement. If these patterns persist over the next five years, they may rule out reaching the $200,000 level.
If Bitcoin does not overcome the upper parabolic resistance line, it is unlikely that by the end of this decade BTC will trade above $200,000.
The analysis of the popular trader revealed rectangles, head and shoulders patterns, and expanding formations, indicating a structured but volatile price trajectory.
Bitcoin's history includes rounded bottoms, symmetrical triangles, and key accumulation phases preceding significant rallies. Nevertheless, each cycle has been accompanied by struggles with critical resistance levels.