Blow-Off Top? Legendary Trader Peter Brandt Weighs In on Bitcoin After BTC Rises Nearly 50% in a Month.

Veteran trader Peter Brandt, who gained legendary status after calling the 2017 Bitcoin (BTC) collapse, is looking at the crypto king’s history to determine whether its multi-month bull run is over.

Brandt tells his 719,800 followers on the social media platform X that he thinks Bitcoin’s bull market is just getting started after BTC surged by about 45% last month.

According to the seasoned trader, Bitcoin’s last monthly candle is similar to the one witnessed in late 2020 when BTC soared above its previous all-time high of $20,000.

“Should note that huge monthly bars are usually ‘starting’ or ‘take-off’ candles or ‘ending” or ‘blow-off’ candles.

My bet is that this is a ‘starting’ candle. Note the bars in late 2020. BTC.

Oct 2021 was a blow-off candle for example.” 

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