Earlier today, Peter L. Brandt, who is one of the world’ most respected classical chartists, commented on Bitcoin’s latest price action.
In 1990, Brandt, who has been a commodity trader since 1976, published the book Trading Commodity Futures with Classical Chart Patterns. Then, in 2011, John Wiley and Sons published his second book, Diary of a Professional Commodity Trader, which “became Amazon’s #1 ranked book on trading for 27 weeks.”
This is what Raoul Pal, Co-Founder and CEO of Real Vision, says about Brandt:
“Peter is simply one of the very best and most experienced classical chartists in the world. His analytical, pure chart-driven approach to trading and risk management is clear, understandable and actionable. Real Vision has had the honor of featuring Peter’s work and his content remains one of the most talked about and enjoyed by our subscribers. I can not recommend his work enough.“
In a tweet published on March 9, Brandt suggested that he might betting to ready to buy Bitcoin:
Even though Brandt does not think of Bitcoin as a religion, from his previous tweets, it is clear that he respects the flagship cryptocurrency. For example, on March 4, he said that Bitcoin is the king of cryptoassets:
On March 2, Brandt said that he was a not a BTC HODLer since it made more sense to use technical analysis to recognize Bitcoin’s tops and then to sell at those points rather than hold BTC no matter what and “risk” 80% drawdowns. Then, on March 3, he pointed out that this did not mean that he was advocating “short-term trading” of BTC.
DISCLAIMER
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
IMAGE CREDIT
Featured Image by “petre_barlea” via Pixabay
