Veteran Trader Peter Brandt shares Holy Trade rule” as a Bitcoin and warns of the purchase of the DIP -
Veteran Trader Peter Brandt shares Holy Trade rule” as a Bitcoin and warns of the purchase of the DIP -
The experienced dealer Peter Brandt shared "a holy trade rule", which he uses in response to a comment on the purchase of Bitcoin, since the price of cryptocurrency continues. "Never add to a losing business," he affirmed.
Peter Brandt offers trade advice on
The experienced trader Peter Brandt has a trade proposal for anyone who is considering buying the dip. Brandt has been a futures and FX career traders since 1975. He is a chart and author of the Factor Report. It acts on a variety of markets, including Dow futures, bonds, corn, crude oil, European wheat, Osaka Dow, US dollar and sugar.
In response to a comment on Twitter, which means that there could be additional options for long -term Hodler in the coming months to buy even cheaper Bitcoins, wrote:
A holy trade rule that I used is to never add to a loss transaction.
he said in a tweet that people said the same thing about silver futures in 1980 after crossing the 50 dollar brand. "It then sank to a low of $ 3.65 and did not start again for 24 years," he emphasized. However, the dealer made it clear that he did not predict that Bitcoin would take the same way.
The price of Bitcoin has fallen significantly this week and has lost over 10 % in the past seven days. At the time of writing, the price is $ 41,657.45 based on data from Bitcoin.com Markets.
Brandt commented on the violation of parabolic progress by Bitcoin in the Bitcoin Live discussion on Thursday.
he tweeted on Friday: "I saw the violation of the parabolic advance and commented live in real time to members of Bitcoin, but in retrospect I may not take the event seriously."
he followed with another tweet. Note that "some considerations consider a unique event. I am [a] student of Bayesian probability. Predict and analyzes must always change in relation to the events of the time," he concluded:
If the circumstances change, predictions must change. The parabola may not be the driving force in btc .
What do you think of Peter Brandt's advice? Let us know in the comment area below.
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