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Trader Who Called Crypto Crash Charts Bitcoin’s Path Ahead – BTC, ETH, XRP, LTC, BCH, EOS, TRX, ADA Forecasts

by Daily Hodl Staff
September 23, 2019
in Trading

A veteran trader says he’s preparing for Bitcoin to break to the downside.

Peter Brandt, who became a prominent name in the crypto industry for forecasting the burst of Bitcoin’s last bubble, says BTC remains in a descending triangle and will most likely move lower in the short term.

“Bitcoin meets the definition of a descending triangle. Don’t let newbie chartists tell you different. Right-angled triangles imply (but do not demand) a resolution thru the horizontal boundary.”

Source: Peter Brandt/Twitter

In the long run, Brandt says he remains long on BTC and thinks it has likely entered a fourth parabolic phase. In May, he said BTC is “taking aim at $100,000.

Bitcoin is down 1.86% at $9,799, according to COIN360 at time of publishing.

Ethereum is up 0.16% at $208.13, XRP is up 3.66% at $0.2830 and Litecoin is up 0.73% at $72.24.

Source: COIN360

NewsBTC analyst Aayush Jindal says BTC is now risking a shift down to $9,650 or lower.

“The next key support is near the $9,400 area, below which the bears are likely to take control.

They could aim the $9,000 and $8,800 levels if there is a break below $9,400.”

Here’s a look at the latest forecasts from across the cryptoverse.

Bitcoin

NewsBTC – Bitcoin price watch: Here is why bulls must be careful

CoinDesk – Bitcoin indicator is most bearish since December

Ethereum

Crypto Daily – Support expected around $197, with resistance at about $213

XRP

The Merkle – XRP will most likely test $0.26 support sooner than expected

Litecoin

FXStreet – LTC/USD sitting just above critical support of a flag structure to the downside

Bitcoin Cash, EOS, Tron, Cardano

NewsBTC – Crypto market could extend losses: BCH, EOS, TRX, ADA analysis

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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