Peter Brandt, which has been trading in the markets since 1975, has discussed the famous structure in the graph in its current assessment. Nowadays, everyone shares comments that the falling trend is broken and the rise will gain momentum. The gel reiterated this estimate a few hours ago. So why doesn’t the 50 -year trader believe it?
Bitcoin broke the falling trend
At the time of the article, the King Crypto currency lingered at $ 85,700 and motivates investors to soften more against tariffs. It is known that this chaos cannot be maintained for a long time. Moreover, the latest rise, such as Jelle analysts caused the formation of the following structure in the Bitcoin graph.
Jelle said;
“Bitcoin broke the trend line, formed a rising triangle, and now he’s re -testing it. The price looks eager to rise – hold here and see that we’re moving towards the next 88 thousand dollars.”
Peter Brandt shared almost the same graph and said I’m sorry.
“Many amateur graphics commentators draw attention to this trend line.
Among all graphic structures, trend lines are the least important ones. The trend line violation does not indicate that the trend has changed. I am sad.”
Of course, neither Peter nor Gelle does not have spheres that see the future. Peter’s 50 -year experience did not make him a billionaire, then he could not hear from the future and we can say that he did not see all the big movements in the graphics. However, the criticism of the 50 -year trader on the current structure may perhaps combine the ground for a great rise movement that lays in the opposite corner by combining with disbelief in the market.
Bitcoin MVRV-Z Data
Jelle also drew attention to the MVRV-Z data showing if the BTC is valuable by comparing Bitcoin’s market value with its market value. When calculating this, market value (current BTC price * circulation supply) is used by the latest price that each BTC is lasting. 7 Extremely valuable 2-7 healthy growth and 0-2 neutral region. In 2011, 2013, 2017 and 2021 bull summits, Z Score 7 was exceeded. Below you see the current situation.
“Bitcoin’s MVRV Z-Skoru has been a powerful indicator to understand when the cycle is historically approaching the summit. So far, a medium cycle seems to have been in the consolidation phase;
Wait for this rise ” – Jelle
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
