Legendary Trader Peter Brandt Sees “Big Buy Signal” On Bitcoin

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Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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The news that one of Silicon Valley’s newest Unicorn companies, financial payments provider Square, was putting Bitcoin on its official balance sheet to be deposited with the US treasury came as a shock to many, and as a welcome sign to some. One of the latter ones was legendary trader Peter Brandt who stated that he saw a big buy signal on Bitcoin because of it. Ever since his tweet, Bitcoin has seen an upswing which took it over $11k again.

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Brandt is the author of several books on trading and the profession of technical analysis. His book diary of a professional commodity trader is considered a bible to many in the City of London. Back in 2011 he was named as one of the 30 most influential persons in the world of finance.

As the news chimed in that Jack Dorsey’s company Square had invested in Bitcoin directly, Brandt said:

It is a major development that a global corporation is now putting $BTC onto its balance sheet. The weekly and daily charts a poised to flash a big buy signal.

At the same time, Bitcoin moved above $11k for the first time in three weeks.

Not all of Brandt’s followers agreed though, with one deserving a reply from the master himself. Andy stated in reply:

Not out of the woods, bullish accumulation but 12k still the top and I’m keeping my eye on a 3rd support touch of support.

Peter Brandt, never going out of the way of any possible technical analysis discussion, replied:

This would be a perfectly acceptable chart interpretation, and would likely wear the bulls out completely into capitulation.

We will know in a few days whether Peter was right and $13k is indeed the next target.