Peter Brandt

Peter Brandt


Trader of classical charting principles since 1980. Author, #1 Amazon trading book Diary of a Professional Commodity Trader. Publisher of weekly Factor Service

548305 followers  •  641 follow  •    •   https://t.co/KzSFiH45dx

A report for #Factormembers  post was issued "Thoughts on a Weekend Afternoon, July 24, 2021". Please see here for more details.

@DamelonNxt  A @bbandsc  @AstroTrader87tually  I believe in the narrative of $BTC being an historic store of value vis a vis fiat depreciation. I poke fun at the lunatic dogmatics of crypto bulls especially alt coin nut cases

These are all my favorite patterns

U.S. stock market -- a health checkup S&Ps - New all-time high weekly close $SPX $ES_F NASDAQ -- New all-time weekly close $NQ_F DJIA -- New all-time weekly close $YM_F The perma-bears may be right eventually, but not this week

Yes, but be prepared if necessary to put on the sun glasses

What do these dates have in common? May 19, 20, 21, 24, 25, 26, 27 June 14, 15, 16 Jul 26, 28, 29 Days during which the supply of Bitcoin at the ~40,000 rejected any further advances

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I remember being scoffed at unmercifully when I identified this top in $LTCUSD back in mid 2018 Hey Cardano trolls $ADAUSD , take aim...

Best of luck. Just that you know, I never short the alt coins and only periodically short BTC (then only via CME futures)

@fsuppa96  I am wrong a lot on a lot of markets. No guts, no glory. Traders who are fearful about being wrong will never become very profitable.

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Big picture $BTC Bitcoin is undergoing its third parabolic advance in the past decade. A parabolic advance on an arithmetic scale is extremely rare - three on a log scale is historic

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Bitcoin takes aim at $100,000 target. $btcusd is experiencing its fourth parabolic phase dating back to 2010. No other market in my 45 years of trading has gone parabolic on a log chart in this manner. Bitcoin is a market like no other.

Bitcoin $BTC is redefining the concept of "overbought." Bull markets become and remain overbought. Major bull markets become overbought majorly. Historic bull markets become historically overbought. Red arrows mark midpoints of parabolic advances

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Stages of a Bubble as seen by a 45 year trading veteran Stage 1. A neighbor asks me what I know about $BTC Stage 2. A friend ask if $BTC is a good buy Stage 3. A relative asks if he/she should buy $BTC Stage 4. A person I've not seen in 30 yrs, calls, bragging he/she bought $BTC

Renko charts, originating in Japan, are probably the most useful for staying with a trend and not getting whipped around by shorter-term volatility. As shown for $BTC #Bitcoin , the trend from $6,000s to $60,000s was steady. So has been the decline since April

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Us old-timers have learned that whenever @GoldmanSachs  enters a market niche it is time to guard your money. $BTC

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Now officially the largest correction since the Mar 2020 low. But, how can this be????? There is supposed to be institutional support. $BTC. This was not supposed to happen!!!!!

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I have made my living since 1975 trading futures markets using charts My conclusion on chart trading: 1. Charts do NOT predict prices 2. Most chart patterns fail 3. Charts simply tell us where a market has been 4. The only value in charts is for trade/risk management

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