Hey there! ๐
It looks like Peter Brandt, a seasoned analyst with a keen eye on the markets, is stirring up some excitement in the crypto world! ๐ He's spotted a pattern in Bitcoin's chart that's got him thinking we might be on the cusp of a **massive rally**โone for the history books! ๐
Brandt points out that Bitcoin's chart is giving off some serious **Dow Jones vibes** from back in the '70s. If history decides to rhyme, Bitcoin could be gearing up for a **skyrocketing adventure**. ๐ข
He's also highlighting that Bitcoin hasn't yet outdone its 2017 glory days in terms of the dollar supply chart. ๐ The big picture? He believes Bitcoin's fate is tied to the fate of fiat currencies like the US dollar. ๐ธ
The chart he's looking at compares Bitcoin's price with the US total money stock (M1), and yep, it's still trailing behind the December 2017 peak. But the patterns are echoing the **Dow Jones** during the Great Recession, and that's got some heads turning. ๐ค
Brandt is nodding to the classic **TOBO** model (that's the Reverse Shoulder Head Shoulder for the chart aficionados), which has been around since the days of Schabacker and Edwards & Magee. If they gave it a thumbs up, Brandt's all in. ๐
So, what's the takeaway? Keep your eyes peeled on those charts and maybe, just maybe, we'll witness a Bitcoin bonanza! ๐ Remember, though, the crypto market is a wild ride, so buckle up and do your homework before jumping in. ๐๐ก
