Bitcoin (BTC) Forecast From Famous Trader Peter Brandt

Famous trader Peter Brandt, in his post on his Twitter account, claimed that the daily chart of Bitcoin (BTC) looks absolutely negative.
 Bitcoin (BTC) Forecast From Famous Trader Peter Brandt
READING NOW Bitcoin (BTC) Forecast From Famous Trader Peter Brandt

Famous trader Peter Brandt claimed in a post on his Twitter account that the daily chart of Bitcoin (BTC) looks absolutely negative.

Brandt cited the $29,000 level as the key level for the bulls to hold.

https://twitter. com/PeterLBrandt/status/1410614829195300868

“If the bulls fail to keep Bitcoin at $29,000, the burden of proof will be on the bulls”

According to Brandt, a bearish rectangle pattern that has taken shape over the past five weeks is a major hurdle for Bitcoin to recover.

The leading cryptocurrency, which has left behind its worst quarter since 2018, is trading at $ 33,387 at the time of writing, according to CoinMarketCap data.

The second quarter of 2021 has been a highly volatile period for the asset. Bitcoin started the second quarter of the year with a bang and hit an all-time high of $64,895 on April 14. But the reign of the bulls did not last long. After Tesla stopped Bitcoin payments, the asset suffered a significant collapse with the effect of pressure from China.

Bitcoin continued its decline for the third month in a row, leaving behind the worst quarter since Q4 2018.

 

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