Peter Brandt says, the BTC-price is the best indicator | Coin Hero
The price gives information on market movements. You should not be so naive, that he is always predictable
The price is probably the most important indicator for traders, it is not the shocks as technical indicators. As stated by Peter Brandt in a recent Tweet to the current value of the Bitcoins.
Brandt had already brought his optimism to the fact that the Bitcoin will reach a high of US $ 50,000. So he replied to the Tweet of another merchant, and presented his preferred indicator for the price observation.
“The price and only the price is important,”Brandt says. Indicators are just derivatives of the price
The author of the “diary of a professional commodity trader” said, the actual price of an asset is exactly what traders need, the next crucial step is to prepare. More is not needs, according to Brandt, to analyze technical and complex indicators, he said this was unnecessary. “I have been studying solely the price.”
Against derivative indicators he had, but nothing, only against its excessive use in charts.
At the beginning of may this year, tweeted Brandt, a Bitcoin price Chart, the you take should not, in his opinion too seriously. The chart showed a bullish assessment of Bitcoin’s performance after the Halving. Too many technical indicators, but the analysis is almost illegible.
But the price “speaks” not always
Contrary to his own view, the price is the most important indicator, it is nevertheless naive to assume that the price informed, without exception, always about the market direction.
According to Brandt, the Bitcoin price does not speak “every day” . Only beginners would observe the price in the expectation of receiving so about every little rash digestion.
The expert for the commodity trading emphasized in the past eight years have heard of only a dozen days on the market, every Bit of movement.
In March, the Bitcoin dropped by over 50%, but recovered more. More than 150 %, it rose, until it came to an unprecedented return to prices over $ 10,000 to re-break-in.
The first crypto currency ever celebrated in mid-may, their third Halving. Since then, a lot of movement in the market. The prices fluctuated between a High of about 10.100 USD and a recently reported Low of 8,650 USD.
At the Moment of writing this article the price of Bitcoin increased within 24 hours to more than 3%. Thus, the Coin remains at over 9,100 USD after on 27.05. the resistance level at 9,000 USD broken had.
