The legendary dealer who precisely predicted Bitcoin’s crash in January of 2018 says BTC seems primed for an additional sell-off occasion.
Seasoned analyst Peter Brandt tells his 689,700 Twitter followers that Bitcoin is flashing a candlestick formation indicating a contemporary transfer to the draw back for the king cryptocurrency.
“Please all remember that Bitcoin BTC is creating the notorious ‘three blind mice’ chart building.”
Though the three blind mice sample shouldn't be a traditional technical formation, Brandt has beforehand talked about the same building in April 2020 when Bitcoin shaped six consecutive bullish weekly candles that noticed BTC rally from round $5,000 to above the $60,000 degree a 12 months later. The sample seems to be suggesting the continuation of the underlying development.
“Come on you amateurs, you are able to do higher than this. You might be lacking the forest from the bushes. It is a 28-month coil with the worth motion most just lately being the well-known ‘six-blind-mice sign.’ Get with it.”
In a latest interview, Brandt emphasizes that the development for Bitcoin continues to be down and that may seemingly proceed except BTC can rally above the $20,000 key psychological degree.
“I definitely suppose that except Bitcoin can actually rise up and consolidate above $20,000 once more that we might see one other leg down… I don’t suppose that we’ll go to $11,000 or $12,000. I believe $13,000 might be a extra actual reasonable degree…
So far as I’m involved, till Bitcoin can actually regain $22,000 and maintain it, I don’t see any cause why Bitcoin can’t slip again right down to that $13,000.”
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