THELOGICALINDIAN - Peter Brandt is one of the best accepted Bitcoin analysts on Twitter In the aftermost 24 hours Brandt has fabricated a bullish case for BTC which counters abounding who anticipation the bazaar would slump because of Chinese New Year
Bitcoin Could Hold, Says Brandt
In a attenuate glimpse into the apperception of a trading adept who has survived and thrived in the markets for 40 years, Peter Brandt, in this Tweet, offers zen-like academician admonition to adolescent traders.
Brandt argues that a re-test of the blemish we’ve had on the top of a year-long bottomward approach is accustomed and he wouldn’t be afraid to see added upside in the abreast future. He does, of course, add that a added astringent alteration could booty abode if the top of the approach break to the downside. Nevertheless, the bullish changed arch and amateur arrangement he spotted beforehand in the anniversary accepted to be accurate, and BTC went on to column an 18% accretion afore correcting.
Brandt makes a case which contradicts Arthur Hayes, CEO of Bitmex who afresh predicted the Chinese New Year would accept a abrogating appulse on Bitcoin, as able-bodied as the blow of the market. Brandt comments on bitcoin’s contempo blemish aloft the high abuttals of the downtrending channel, and says that the accepted amount activity is ‘throwing back’ assimilate the akin as a new support. The 18 DMA is additionally accouterment added abutment for bitcoin amount at this key level.
Mati Greenspan Gives Creedence to Brandt
Mati Greenspan, above Senior Market Analyst at eToro, and architect of Quantum Economics, concurs with Brandt’s bullish affect and acclaimed that the backbone of Bitcoin’s rebound. He addendum that the contempo animation off the acting $8,200 abutment akin is a absolute assurance for bitcoin.
DonAlt is Catching Waves, Remains Unconcerned
Another able-bodied accepted crypto cheep trader, DonAlt, echoed this also, advertence that bearish traders are disturbing to bulwark off the ascent affairs burden appropriate now. He added that alone back BTC hits $7,500, will he change his bias.
Bitcoin is currently at $8500 USD as of this writing, aloof $15 dollars shy of the circadian aerial of $8515, beforehand today. It charcoal cryptic if this is artlessly a asleep cat animation or if this trend changeabout has legs to backpack the bazaar with added drive to the upside.
Are you bullish on Bitcoin forth with Peter Brandt and co? Let us apperceive in the comments!
Images via Shutterstock, Twitter @CryptoDonAlt @MatiGreenspan @PeterLBrandt
