Will we see a Bitcoin dip? Buying opportunity?

Although Bitcoin has shown a rise of around 20% over the last three months, the past week has been more difficult for investors. $80k remains a tough hurdle to overcome. Many short-term investors are taking profits now that China and the United States are negotiating and geopolitical issues move to center stage. Top analyst Peter Brandt, who has been discussing Bitcoin’s chart for over a decade, believes we may be at the beginning of a short term dip.

Trend

Peter Brandt, the chart specialist who fairly accurately predicted the trend reversal of gold and silver this year, discussed Bitcoin this week. According to Brandt, the largest digital currency has indeed been in an upward trend channel since mid-February (with the low of $60,000), but we are being a bit premature if we think that $85,000 can be reached soon.

As 👁️ see it
A recognizable bottom has NOT NOT NOT been completed in Bitcoin. A possible bear channel exists from the Feb low. Price is being repealed from the upper boundary. An ATR close below 79145 would indicate a retreat back to mid point, then maybe the lower boundary pic.twitter.com/SckPijgVsN

— The Factor Report (@PeterLBrandt) May 13, 2026

He believes there is a chance that we will tumble to the bottom of the rising trend channel in the coming days, which would result in a price of $76,000; there is nothing wrong with that in itself, but if we break through that support line, a further drop to below $70,000 is possible if geopolitical conditions (war with Iran, warning from China regarding Taiwan, higher oil prices, etc.) deteriorate.

Therefore, short-term investors are taking profits. Wall Street’s largest investment funds are waiting to buy Bitcoin until the $76,000 support line is tested.