Career Trader Subtly Hints Of Bitcoin Parabola Breakdown With Fractal Diagram
Bitcoin has fallen below $35,000, and while given the asset’s recent highs sounds like a sizable correction, the price per BTC is still nearly 1000% higher than where it was less than one year ago. After such extreme moves to the upside, often come crashes that eliminate much of the progress made, until the parabola starts […]
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Bitcoin blasting above $50,000 per coin made it clear that the parabola would continue, marking the third major parabolic phase in the cryptocurrency’s short lifecycle. Commodities trader Peter Brandt has seen many price charts throughout his storied career. This sort of behavior in an asset is rare, according to Brandt. But three times? That’s “historic,” he says. And according to a chart he’s shared, the parabola has a lot more to go before it is […]
Bitcoin may not sustain its highs after pushing as high as $11,500 on Friday evening. One trader recently noted that a simple fractal analysis suggests the coin will undergo a retracement after hitting $11,400. The trader said that the cryptocurrency has some similarities to price action around two weeks ago. While the fractal may be valid in its own right, the discussion around the next fiscal stimulus bill in the U.S. is likely to drive […]
Peter Brandt is an iconic trader who in the past called the dramatic fall to the Bitcoin bear market bottom, nearly a year ahead of time. Could the commodities trader with decades of experience in all things markets – who has for sure seen a thing or two in his career – now be forewarning […]
Bitcoin price dropped below the parabola on the 12-hour timeframe but traders aren't calling for a big correction yet. Over the weekend numerous traders pointed out that Bitcoin (BTC) price broke its parabolic uptrend which had dated back to September. Technical analysts are bracing for a pullback as the dominant cryptocurrency eyes consolidation.Bitcoin could still see a strong recovery after the weekly close if there is a continuation of the rally. But it would need to quickly re-enter the parabola or risk a potential downward correction.Traders pinpoint $15,500 as the key level to....
Bitcoin plunged on Thursday, stalling a price rally driven by fears of the US dollar debasement and higher inflation. The benchmark cryptocurrency fell to $16,200 a token, a multi-week low, ahead of the New York trading session. By doing so, Bitcoin also broke below a crucial parabolic support that had offered it a concrete price […]