Peter Brandt is considered one of the most popular Bitcoin analysts. In the last 24 hours Brandt for BTC has held a bullish argument, the many contradicts that thought the market would break because of the Chinese new year celebrations.
Bitcoin keeps? Brandt remains bullish
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Brandt, a Trading Veteran who survived for 40 years on the markets and thrives, gives his traders via a Tweet currently, zen-like, wise advice.
Brandt argues that A re-Test of the outbreak, the we down had the tip of a year, the channel was normal. He would not be surprised to see in the near future-more upside potential.
A stronger correction could take place, if the top of the channel breaks down. Nevertheless, the bullish, inverse head and shoulder pattern, which he recognized at the beginning of the week, as right – and BTC reported before correction for a profit of 18%.
Brandt argues, contrary to BitMEX CEO Arthur Hayes. Believes that the Chinese new year would have a negative impact on Bitcoin and the rest of the market.
Mati Greenspan supports Brandt’s Thesis
Mati Greenspan, former Senior market analyst at eToro and founder of Quantum Economics, agrees with Brandt’s upbeat mood and commented on the strength of the bitcoin boom. Greenspan, according to the recent rebound of the provisional support level of $8.200 is a positive sign for Bitcoin.
Beautiful bounce off interim support at $8200. ??? pic.twitter.com/KE9KOUwgl6— Mati Greenspan (tweets are not trading advice) (@MatiGreenspan) January 24, 2020
Other traders bull also will remain on the table
Also DonAlt, another well-known crypto-Trader, the positive mood and declared that bearish traders have in the Moment of effort, the increasing buying pressure repel. He added that he would only change, if BTC reaches $7,500 in brand, his preference.
I’m out surfing right now so I’m not looking at the charts but a quick scope of Twitter shows me all I need to know.Bear cope & more bear cope.I’ll be bearish the moment we start closing below 7500, not when BTC is retesting it’s neckline.Still long & strong.— DonAlt (@CryptoDonAlt) January 9, 2020
Bitcoin currently stands at 8.320 USD. It remains unclear, whether the next hour will bring a trend reversal that carries the market with more of a curve.