Bitcoin Price Trends: The Hump Slump Bump Dump Pump Pattern

Peter Brandt, a renowned commodity trader, revisits his “Hump Slump Bump Dump Pump” chart pattern, originally shared some years ago, suggesting it may be relevant today.

> If you are a Bitcoiner, take a look at this post from several years ago. It describes the famous Hump Slump Bump Dump Pump chart construction in $BTC. Same thing could be happening now.
> — Peter Brandt (@PeterLBrandt) December 29, 2024

Brandt believes the pattern is currently in play for Bitcoin. The cryptocurrency, after a series of price fluctuations, first peaking at $108,135 on December 18, saw a decline back to around $92,000. According to Brandt’s analysis, Bitcoin may be nearing another price increase, potentially reaching $112,500 by January.

Currently, Bitcoin is trading at $95,055, according to CoinGecko.

Trader Josh Olszewicz, using the Ichimoku cloud indicator, suggests two potential paths for Bitcoin: a bullish scenario with a potential rise to approximately $160,000, or a bearish descent to $80,000.

> $BTC
> bullish trend continuation schematic to watch for in Q1
> also viable alternative is a bearish E2E to 80k (posted yesterday)
> exact same setup as Q4 2023 into Q1 2024
> time is a flat circle
> — #333kByJuly2025 (@CarpeNoctom) December 28, 2024

Furthermore, Fundstrat’s Tom Lee has predicted Bitcoin could climb to $250,000 next year, while Brandt has mentioned the potential for prices exceeding $150,000 by 2025.