Peter Brandt "Bitcoin (BTC) breaks parabolic trendline… historically a signal of declines over 80%"
JH Kim
Summary
- Peter Brandt warned that Bitcoin's price has breached the parabolic trendline.
- He warned that the breach has in the past acted as a signal of crashes of more than 80%.
- CoinDesk said that, with structural buying foundations such as expanded institutional demand, it is uncertain whether traditional bearish signals will actually lead to a decline.
Veteran trader Peter Brandt said he was cautious, stating that the price of Bitcoin (BTC) has broken a parabolic trendline.
On the 15th (local time), according to cryptoasset (cryptocurrency) specialist media Cointelegraph, Brandt warned that the breach has historically acted as a technical signal that accompanied crashes of more than 80% in past bull cycles.
However, CoinDesk said it is uncertain whether this cycle will unfold in the same way as before. With structural buying foundations formed—such as expanding institutional demand and companies' strategic Bitcoin stockpiling—whether traditional technical bearish signals will actually lead to a decline is a point to watch.
JH Kim
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