The famous trader Peter Brandt came to the conclusion that Bitcoin repeats the same patterns on the chart as in 2015, after which its price increased about 100 times.
Either from Dec '18 low or from retest of same (circa analog dbl bottom in 2015) it would not surprise me if $ BTC enters a new parabolic phase. $ btcusd pic.twitter.com/XV89Qz7P4n
– Peter Brandt (@PeterLBrandt) 5 April , 2019 p.
According to him, a few years ago, after testing the “Double bottom” bullish reversal pattern , a so-called “parabolic arc” followed, which ended in December 2017 near the $ 20,000 mark.
Now history repeats itself and after the second trough of the “Double bottom”, the trader believes, an exponential growth along a similar trajectory can follow.
“I would not be surprised if BTC enters a new parabolic phase ,” Brandt said.
Note that as early as January 2018, Brandt predicted a collapse in prices by 80% (to $ 3,933) after the “parabolic arc”.
General TA rule – violation of parabolic advance leads to 80% + decline in value. If general rule is followed, BTC should not retrace to <$ 4,000. Note: This is a tweet. pic.twitter.com/jDNI1osinU
– Peter Brandt (@PeterLBrandt) June 22, 2018 p.
Earlier, Peter Brandt expressed the view that the Altcoins will become useless rubbish.
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