Legendary trader reveals when Bitcoin ‘real breakout’ will occur
Bitcoin (BTC) has broken out of a seven-month downtrend, trading above the $70,000 psychological resistance since early October 29. However, the legendary chart trader Peter Brandt explained this price action is not a “real breakout” yet. In a post made this morning, Peter Brandt defended a bullish bias on Bitcoin but warned about the so-called breakout. The experienced technical analyst said diagonal patterns are hard to trade. On that note, breaking out of the downtrend resistance line is not enough for a real breakout, requiring other indicators. “When is a breakout really a breakout? Bitcoin bulls should be excited – but there are rules to determine breakouts.” – Peter Brandt Picks for you Bitcoin is just 2% away from breaking its all-time high 30 mins ago ...