Peter L. Brandt Claims Bitcoin Is Putting In Its Cycle Low “Now”

Profession commodities trader Peter L. Brandt is now claiming that Bitcoin is putting in a “low for this cycle now,” based on a brand new TradingView post.

This call for a bear market bottom is already being met with skepticism, but given the chilling accuracy at which Brandt had made related to his cryptocurrency bets previously, there could possibly be more validity than investors are ready to simply accept.

Peter L. Brandt TradingView Post Calls For Cycle Low In BTC

In a brand new TradingView post currently trending on the charting platform’s editor’s picks section, profession commodities trader Peter L. Brandt says that the cycle lows for the crypto market are going down “now.”

Although Brandt doesn’t directly state that the underside is already in, he does imagine that Bitcoin’s behavior is “predictable” and may see a powerful advance after the recent, nearly 80% decline.

Brandt famously called for an 80% decline in BTCUSD in late January 2018 after the 2017 parabolic advance was violated. Back then, Brandt called it a “general TA rule, eventually nailing his sub-$4,000 goal some eleven months later in December of the identical yr.

A more in-depth take a look at Brandt’s evaluation | BTCUSD on TradingView.com

What The Profession Trader Expects For Bitcoin In 2023 And Beyond

“I don’t expect Bitcoin to run away to the upside, but reasonably work higher toward late 2023/early to mid 2024 when the ATHs are retested,” he explained, sharing the chart above to justify the evaluation.

The Factor LLCCEO is a classical chartist, and in his TradingView post shares a 6-month timeframe bar chart. Other visual cues aiding his evaluation include the most important sell volume ever on the BTCUSD index chart.

Peter L. Brandt has earned himself a polarizing popularity within the cryptocurrency community. The comments section is already taking jabs on the trader with 40 years experience.

In keeping with the CMT Association, Brandt founded Factor LLC in 1980, but entered the commodities trading business starting in 1976 with ContiCommodity Services.

He can be published writer, releasing the book “Diary of a Skilled Commodity Trader: Lessons from 21 Weeks of Real Trading” in 2011 – the identical yr he was named considered one of the 30 most influential individuals on this planet of finance by Barry Ritholtz.

Today, Brandt is considered one of the contributing analysts at Bitcoin.live together with Bob Loukas and other well-known traders.

Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive day by day market insights and technical evaluation education. Please note: Content is educational and mustn’t be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

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