Career Commodities Trader Calls Bitcoin Chart Parabola “Historic”

Career Commodities Trader Calls Bitcoin Chart Parabola “Historic”

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 […]

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Traders say $15.5K level ‘crucial’ after Bitcoin price dips below parabola

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....