Brandt’s “Stop Rule” Forecast for BTC
Peter Brandt, one of the names known to those who are interested in crypto money markets, shared his views on Bitcoin (BTC). Peter Brandt, who conveyed his views on his social media account, claimed that a 3-day stop rule signal could occur in the short-term view of Bitcoin. The trailing stop rule is known as a risk management strategy that Brandt touched on in his self-made book.
“Hey J-Birds @ChartWizardsNFT Bitcoin could be setting up a 3-day trailing stop rule signal. Stay tuned.”
According to the daily chart Brandt shared on his Twitter post, Bitcoin created a head and shoulders pattern last week. Besides, yesterday’s closing price remained above the current low of the candlestick seen as the setup day. According to this result, Brandt suggested that investors who open a short position according to the head and shoulder formation should follow today’s price movement closely. As a result, Brandt advised traders who caught the short trade in the head and shoulders pattern to watch today’s price action closely and close their positions if a close above yesterday’s high of $22,300 on average.
In his latest prediction about Bitcoin price action, Brandt drew attention to the price of $ 25,000 for BTC, and he mentioned that at this point, his own strategy, called the “double-walled fulcrum”, will form the bottom pattern.
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