Experienced investor and stockbroker Peter Brandt stated that a giant symmetrical triangle shows that Bitcoin can reach new high levels. Brandt, which also doubled its previous forecast about Bitcoin, predicts that even though it does not specify a specific time period, the largest cryptocurrency will reach $ 50,000. Giant symmetric triangle As it is known, when two trend lines intersect, a symmetric triangle forms. In most cases, a break occurs near the top of the hill. For the trend to be upward, a precondition is required: a solid bull trend behind it … Peter …

Experienced investor and stockbroker Peter Brandt stated that a giant symmetrical triangle shows that Bitcoin can reach new high levels.

Brandt, which also doubled its previous forecast about Bitcoin, predicts that even though it does not specify a specific time period, the largest cryptocurrency will reach $ 50,000.

Giant symmetrical triangle

As it is known, when two trend lines intersect, a symmetrical triangle is formed. In most cases, a break occurs near the top of the hill. In order for the trend to be upward, a prerequisite is required: a strong bull trend behind it…

As of now, Bitcoin remains in an enormous symmetrical triangle that dates back to December 2017, when its price reached an all-time high of $ 20,000.

“Bull trend will accelerate”

In January, Brandt pointed to the meandering price movement that claimed that Bitcoin could come out of the triangle:

“I will look at this as a continuation of the symmetrical triangle, and as time goes on we will start pushing this upper line. Especially if we remove the peaks in June, we will have completed the symmetrical triangle. This will mean an acceleration of the bullish trend in Bitcoin. ”

See Also  Analyst Giving A Few Months to Record in Bitcoin

New move is coming

Assuming that Bitcoin has completely recovered from the collapse in March, this graphics model still looks valid and apparently Bitcoin is slowly preparing to make a new move.

“When Litecoin joins, that party ends”

While the price of BTC has been showing significant increases in recent days, it is obvious that the biggest cryptocurrency has performed better than altcoins.

Assuming that Bitcoin is seen as digital gold, the successful stockbroker stating that Litecoin, which is called digital silver, is having a hard time, says, “When Litecoin joins, that party usually ends”.

On the other hand, Ethereum and Cardano saw an increase of 12 and 15 percent respectively, while Bitcoin domination has dropped below 60 percent for the first time in the last 1 year.

LEAVE A REPLY

Please enter your comment!
Please enter your name here