The legendary dealer who precisely predicted Bitcoin’s crash in January of 2018 says BTC appears primed for one more 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 growing the notorious ‘three blind mice’ chart building.”
Though the three blind mice sample is just not a standard technical formation, Brandt has beforehand talked about an analogous building in April 2020 when Bitcoin fashioned six consecutive bullish weekly candles that noticed BTC rally from round $5,000 to above the $60,000 stage a 12 months later. The sample seems to be suggesting the continuation of the underlying pattern.
“Come on you amateurs, you are able to do higher than this. You might be lacking the forest from the timber. This can be a 28-month coil with the value motion most lately being the well-known ‘six-blind-mice sign.’ Get with it.”
In a current interview, Brandt emphasizes that the pattern for Bitcoin continues to be down and that can doubtless proceed until BTC can rally above the $20,000 key psychological stage.
“I actually suppose that until Bitcoin can actually stand up and consolidate above $20,000 once more that we may see one other leg down… I don’t suppose that we’ll go to $11,000 or $12,000. I feel $13,000 might be a extra actual real looking stage…
So far as I’m involved, till Bitcoin can actually regain $22,000 and maintain it, I don’t see any motive why Bitcoin can’t slip again right down to that $13,000.”
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