The crypto strategist, who accurately predicted the collapse of Bitcoin in 2018, is offering its options in the markets after BTC’s first major fix from its rapid rise to a high of $ 19,390.
In a new tweet by Peter Brandt he says his 383,000 followers that the current withdrawal of Bitcoin is not an indication that the bull market is over.
“BTC can still fix it, but prices are NOT at the top.”
A merchant who is often accompanied refers to the bull market 2015 – 2017, where there were nine significant corrections with an average decline of 37%.
Brandt he says that a 37 percent drop from the recent BTC peak would lower prices all the way to $ 12,300.
“The interesting thing about the psychology of market speculation is this – many retailers who have sworn that buyers will drop big when the price is above $ 19,000 will actually become sellers below $ 15,000.”
Although Brandt expects a painful Bitcoin withdrawal, crypto analyst Michaël van de Poppe does not see BTC falling to about $ 12,000. In the new video, Van de Poppe plans levels at which customers are likely to step in and stop BTC bleeding.
“Now, if we use the higher time frame chart, we see that there are some critical levels that the market should have, that is, an area between $ 15,800 and $ 16,300. This should be considered as support in general …
We also have about $ 13,600 to $ 14,000, which is the highlight of the summer. We’re not likely to break anywhere beyond that to $ 12,000. I think the $ 13,600 to $ 14,000 level is already the level we’re going to maintain. “
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