Peter Brandt, who has been actively involved in the financial markets for many years, also comments on the crypto market from time to time. Brandt, who focuses more on the leading cryptocurrency #Bitcoin (BTC), recently shared a new BTC analysis.

In his latest analysis, Peter Brandt found that the major Bitcoin chart resembles the Dow Jones Industrial Average (DJIA). According to Brandt, if this similarity comes true, a giant upward adventure will begin in BTC.

Underlining that #Bitcoin still cannot exceed the 2017 peak in the dollar supply chart, Brandt said the following on the subject: “The main idea in Bitcoin is based on the ultimate destruction of fiat currencies (for example, the US dollar).

The chart below shows the price of Bitcoin (BTC) in relation to the US total money stock (M1). This rate is still below the December 2017 peak.

The similarities in the chart structure to the Dow Jones Industrial Average (DJIA) during the Great Recession of the 1970s are striking. I will continue to take this TOBO similarity into consideration.

Schabacker (1934) and Edwards and Magee (1948) nominally accept this model (Reverse Shoulder Head Shoulder). "If this formation is good enough for them, it's good enough for me."#Megadrop #StartInvestingInCrypto #ETHETFsApproved