On Sunday (May 1), legendary veteran dealer Peter L. Brandt, who is likely one of the world’ most revered classical chartists, commented on Bitcoin’s newest value motion.
In 1990, Brandt, who has been a commodity dealer since 1976, printed the e-book Trading Commodity Futures with Classical Chart Patterns. Then, in 2011, John Wiley and Sons printed his second e-book, Diary of a Professional Commodity Trader, which “became Amazon’s #1 ranked book on trading for 27 weeks.”
This is what Raoul Pal, Co-Founder and CEO of Real Vision, says about Brandt:
“Peter is just one of many best and most skilled classical chartists on this planet. His analytical, pure chart-driven strategy to buying and selling and danger administration is obvious, comprehensible and actionable. Real Vision has had the honour of that includes Peter’s work and his content material stays probably the most talked about and loved by our subscribers. I cannot suggest his work sufficient.“
In a tweet printed on April 20, Brandt — who respects Bitcoin however doesn’t see as a faith some Bitcoin maximalists — hinted that there may be additional corrections within the Bitcoin value within the days to return.
The completion of a bear channel sometimes leads to a decline equal to the width of the channel, or on this case a tough check of 32,000 or so — my guess is 28,000
This does NOT make me a hater $BTC pic.twitter.com/tTtuALZvSt
— Peter Brandt (@PeterLBrandt) April 30, 2022
Brandt additionally commented on Michael Saylor’s firm MicroStrategy.
AFAIK the leverage is especially 5 12 months bonds, so long as curiosity funds are met from free cashflow there’s no stress to promote. I can’t see how redemptions would work with a public firm treasury. It’s not a hedge fund with LPs.
— Willy Woo (@woonomic) May 1, 2022
Of course, not everybody agrees with Brandt’s brief to medium time period value predictions for Bitcoin. For instance, macro-economist and crypto analyst/dealer Alex Krüger says this about Brandt’s value targets for $BTC:
When you examine Brandt’s buying and selling targets keep in mind that the final time the person traded outdoors of his retirement account was in 1984.
— Alex Krüger (@krugermacro) May 1, 2022
On March 3, Brandt stated that he was a not a $BTC HODLer because it made extra sense to make use of technical evaluation to acknowledge Bitcoin’s tops after which to promote at these factors quite than maintain BTC it doesn’t matter what and “risk” 80% drawdowns. And on March 3, he identified that this didn’t imply that he was advocating “short-term trading” of BTC.
I’m NOT an advocate for short-term buying and selling
The 2013, 2017 and Apr 2021 highs had been extraordinarily recognizable
Given the readability of tops, why would somebody danger 80% DDs and have to make the identical $$ over and over and over?
Come on of us, $BTC is a good funding, not a faith https://t.co/xJXN6fYODG
— Peter Brandt (@PeterLBrandt) March 3, 2022
Disclaimer
The views and opinions expressed by the creator, or any folks talked about on this article, are for informational functions solely, and they don’t represent monetary, funding, or different recommendation. Investing in or buying and selling cryptoassets comes with a danger of economic loss.
Image Credit
Featured Image by “sergeitokmakov” by way of Pixabay.com
