Peter Brandt Warns Bitcoin Bulls!

BitcoinWhile waiting for critical inflation data from the USA BTC It fell below $27,000 yesterday after the PPI figures and FED minutes were announced.

While investors are worried about a decline following the inflation data, experienced analysts Peter Brandt’dawn BitcoinA warning came to his bulls.

todayAccording to the news of Bitcoinprice movements of, gold and Swiss franc Brandt said that BTC does not present a worrying scenario compared to these assets.

Although BTC is in a better position among other assets, the famous analyst pointed out that investors should be cautious in the face of chaos and volatility in the cryptocurrency industry.

At this point, the analyst Bitcoin Brandt stated that bulls should not remain indifferent to the current market dynamics. “It may not be the smartest stance for BTC bulls to remain indifferent.” said.

BitcoinAnalyst comparing Swiss franc and gold with BTC’showed resilience by successfully testing the support level against the Swiss franc twice; Similarly, he noted that compared to gold, BTC has been trending positively since the end of 2022.

Despite Bitcoin’s positive signs against the Swiss Franc and gold, Brandt said there could be potential short-term traps in the form of a head and shoulders pattern emerging on the charts.

With this analysis, Brandt concludes that although Bitcoin shows positive signs, there may not be a sudden and significant increase in its price. BitcoinHe warns his bulls and says that investors should be alert and act accordingly.

Bitcoinas expressed against two other “store of value” assets — Gold (weekly) and Swiss Franc (daily)
I could be reading sentiment wrong, but it seems to me that Bitcoinbulls are very complacent thinking that next big move will be moon shot $BTC $USDCHF $GC_F pic.twitter.com/iW8HwBCyJS

— Peter Brandt (@PeterLBrandt) October 11, 2023

*This is not investment advice.