Bitcoin Weekly Chart Shows Warning Signs as Peter Schiff Suggests Peak Could Be Behind Us

• Weekly chart warning: Momentum softening while price tests new highs near $124,500.

• Peter Schiff argues the rally may be exhausted and expects a long-term shift toward gold.

• Historical Q4 surges: 720% (2013), 350% (2017), 59% (2021) — current cycle shows strong gains but differs from past blow-offs.

Bitcoin peak: Weekly charts and Peter Schiff’s warning show caution as BTC trades near $124,500 — read the latest analysis and what traders should watch now (COINOTAG).

Has Bitcoin already peaked?

Has Bitcoin already peaked? Weekly technicals are showing cautionary signals while critics like Peter Schiff say the rally may have topped, but historical late‑year surges and ongoing triple‑digit gains mean the peak is not yet conclusive. Traders should watch resistance near $124,500 and momentum indicators for confirmation.

Why does Peter Schiff think Bitcoin’s rally may be over?

Peter Schiff, a long‑time gold advocate, argues the current run mirrors historical tops and that macro shifts will favour precious metals. He has cited a view where gold could reach $6,000 and the dollar index could fall to 70, and he expects increased turbulence when U.S. markets reopen after holidays.

Schiff’s stance rests on correlations he sees between gold and Bitcoin, and on his broader macro outlook. His comments add contrarian weight to a market that has shown large Q4 rallies historically.

What do the charts say right now?

What do the charts say right now? The weekly chart is issuing warning signs: momentum divergence and slowing breadth while price approaches new highs. That combination often precedes corrections, but context matters—volume, on‑chain flows, and macro liquidity conditions must be evaluated.

How do historical Q4 surges compare to today’s rally?

Historical late‑year rallies show distinct blow‑off top behavior in some cycles. For context: 720% (2013), 350% (2017) and 59% (2021). The current rally has posted triple‑digit gains and new highs near $124,500, but it has not mirrored every technical trait of past blow‑offs.

Data sources referenced: market historical price records and on‑chain summaries (plain text reference; no external links).

Frequently Asked Questions

Will Peter Schiff’s gold forecast affect Bitcoin’s price?

Schiff expects gold to rise toward $6,000 and sees dollar weakness; if capital rotates into gold from risk assets, Bitcoin could face headwinds. Correlation shifts between gold and crypto are possible, but a direct causal link is not guaranteed.

What should traders watch to identify a true peak?

Look for sustained weekly momentum divergence, a drop in realized volumes on rallies, large holder distribution on‑chain, and macro shifts like dollar strength or liquidity tightening. Combine indicators for higher conviction.

Key Takeaways

• Chart caution: Weekly momentum shows warning signs—monitor RSI and MACD.
• Historical context: Past Q4 surges were extreme; current gains are strong but structurally different.
• Action: Set clear risk rules—watch $108,000 support and $124,500 resistance; follow volume and on‑chain flows.

Conclusion

The question of a definitive Bitcoin peak remains unresolved. Weekly technicals and Peter Schiff’s critique argue for caution, while historical late‑year rallies and ongoing gains argue for possible continuation. Traders should prioritize risk management, watch the $124,500 resistance level, and track momentum and on‑chain signals before assuming the top has been reached.