#BTC☀

Bitcoin risk alert! Brandt bluntly said: The rebound has not changed the bear market, investors need to be vigilant!

Veteran trader Peter Brandt recently said that Bitcoin's recent rebound has not changed its long-term downward trend.

Although the price has risen briefly, Brandt pointed out that Bitcoin has not yet broken through the key price that can reverse the trend.

Bitcoin has been falling for more than seven consecutive months. This trend of falling, lower highs and lower lows is a signal that the market is not optimistic.

Brandt also mentioned two important price levels that Bitcoin is difficult to cross, one is $70,602, and the other is a higher $73,808, which is also the historical high of Bitcoin.

These two price levels are like two walls that have blocked Bitcoin's rise many times. If these two price levels are not broken, Bitcoin may still fluctuate back and forth around the current price.

Brandt feels that although the recent rebound has given everyone some hope, it has not changed Bitcoin's long-term downward trend.

At the same time, according to an indicator called the Average True Range (ATR), market volatility is still moderate. ATR is now 5756, which means that although the market can still rise and fall sharply, it has not reached a particularly crazy level.

Woo predicts that the market may calm down for one to three weeks before the next big rise.

Brandt also mentioned an interesting phenomenon, that is, when many people are talking about "laser eyes" (a hot word on the Internet that represents the cryptocurrency community's optimism about the market), the market tends to fall instead.

Another senior analyst, Benjamin Cowen, also said that contrary to the "only optimistic" sentiment of the entire community, Bitcoin may fall this month.

Finally, after Bitcoin rose to a two-month high of $66,508 on September 28, it fell for three consecutive days. Yesterday, Bitcoin fell to around $60,000 again, but now it has risen back to $61,395.

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