Legendary Peter Brandt’s trading firm takes a long position in Bitcoin (BTC). In a tweet, Brandt revealed that his company Factor LLC is currently taking long positions in five assets, one of which is Bitcoin. Here are the details…
Peter Brandt takes a long position on Bitcoin
Brandt made a new post on Twitter. He said he would move to another state for the summer and cited the current positions and stop-loss levels of his investment firm Factor LLC. But it turns out that Brandt didn’t intend to share it publicly. In response to a Twitter user’s question, Brandt said, “Sorry, I accidentally tweeted this to my public Twitter feed. It was supposed to be limited to my private Twitter feed.” said. The analyst’s Bitcoin chart shows that he expects the Bitcoin price to rise to $40,000. In the tweet below, gold, Nasdaq index, Gold etc. YPY says it is long on London cocoa and Bitcoin.
Heading to MN for the summer. Current Factor LLC positions with trailing stops
Long Nasdaq $NQ_F
Long Gold vs. YPY $GC_F $G6J_F
Long Bitcoin $BTC
Long Gold $GC_F
Long London Cocoa (not shown) $LCC_F pic.twitter.com/FH2o0LxZEz— Peter Brandt (@PeterLBrandt) April 13, 2023
The basis for this prediction is the bottom formation of a foothold that Bitcoin has successfully formed and the price has recently broken. The legendary analyst shared the chart below on Monday, April 10, and simply commented on “Breaking”. Bitcoin’s surge above $29,200 on the one-day chart triggered a buy signal for Brandt. The “bottom formation at the fulcrum” has been discussed a lot lately, as Peter Brandt mentions this concept in his reports. The structure of the formation resembles a simple lever shape.
Pattern, bottom, formed in a deep consolidation area after a long downtrend, a recovery occurs in the middle but fails. This is followed by several weak rebounds before the final break above the “barriers” occurs. Brandt also appears to have drawn a megaphone bullish pattern on the chart. This pattern was also shared by analyst Ali Martinez in the last days and said, “Bitcoin continues to move towards $34,000 as the bullish pattern continues to set the trajectory of BTC!” said.
Will Bitcoin’s price hit a record soon?
However, unlike Martinez, Brandt expects the rise in BTC to continue around $40,000 in his latest analysis. Remarkably, cryptocoin.com As we have also reported, Brandt made a record statement in a tweet he posted on March 20. He said that he expects Bitcoin to rise to an all-time high (ATH) in the next 12 months, i.e. rise above $69,000. However, Brandt also noted that it is “unlikely” for BTC to approach $50,000 in the next 90 days. The analyst used the following statements:
All predictions are just guesses. My guess is that Bitcoin is 12 months away from the new ATHs. It is dangerous to have opinions that lack facts. The new ATHs in April-June 2024 will be very compatible with past cycles. The amount of disinformation in crypto is astounding to me.
