RATE Group | Peter Brandt Says Bitcoin (BTC) Is in ‘Early Stages’ of Another Parabolic Move
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Peter Brandt Says Bitcoin (BTC) Is in ‘Early Stages’ of Another Parabolic Move

01 Feb Peter Brandt Says Bitcoin (BTC) Is in ‘Early Stages’ of Another Parabolic Move

Posted at 15:10h in Bitcoin News by

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Contents

  • Some reasons to be bullish on Bitcoin  
  • Weak hands are FOMO’d out

In his latest weekly crypto report, commodity trading legend Peter Brandt explained why he thinks that Bitcoin (BTC) could be in the early stages of another parabolic move.


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Some reasons to be bullish on Bitcoin  


Brandt says that Bitcoin (BTC) remains within a massive bull channel that goes back to 2013. He noted that the top cryptocurrency recently started to redefine another parabolic advance, which is reminiscent of the previous bull market.

The chart shared by Brandt shows that Bitcoin has finally managed to break out of a falling channel after forming an inverse head-and-shoulders (iH&S) pattern on the daily chart.


“That was important (to complete the channel) because it was an indication that this…

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