Peter Brandt Bearish After Bitcoin Breaks Below Parabola, Expects Further Reversal3.6

After two full months of a parabolic uptrend, Bitcoin’s bullish momentum has started to wane, and a deep, overdue correction is expected by much of the crypto community. Following a strong rejection at $9,000, Bitcoin price has fallen below $8,000 where it’s retesting the former support turned resistance.

The break in Bitcoin price parabola back at the crypto asset’s all-time high of $20,000 resulted in an over 80% decline in value – a decline almost perfectly predicted by professional career trader Peter Brandt. In the wake of the break of Bitcoin’s most recent parabolic rise, the trader is back at it once again, calling for a 33% decline in the Bitcoin price that could take the asset to the $5,000 region.

Original source

Add comment

Please Sign in to be able to leave comments.