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#crypto #bitcoin #investing

Photo Credit:

[[edited under fair use]]

Welcome back and yes in breaking news a cardano chart Guru and well-known investor Peter Brandt is now shorting ethereum now if you guys are not aware Peter Brandt is a very well-known Trader he has historically talked about you know uh the metals markets and the stock market but now he’s also talking about

Crypto over the last few years his uh EX page says prop Trader since 1975 so in today’s video we’re going to go through what he talked about previously when he predicted cardano’s top in the market what he’s thinking about now for a 75% drop in the ethereum valuation and what I think

About his predictions let’s get into today’s topics and don’t forget to give this video a free thumbs up and also hit that subscribe button turn on notifications that way you never miss a new video we upload every single day and let’s get right into it so if we kind of uh

Rewind back into the middle of 2021 when effectively we were approaching the peak in the crypto markets and I told my viewers from August to October is when I believed we would hit the top of the market in 2021 and for many altcoins including cardano that was the case well

As you guys can see here this was posted October 14th of 2021 and Peter bran said posted updated targets for Ada here on bitcoin. live and ively this is in a follow-up post to his head and shoulders prediction and if you guys know anything about the market movements Head and

Shoulders typically means you’re about to see a drop in the market and so he said this in August of 20121 and then somebody even asked him what he thought about cardano and October 31st just a few months later Peter brand said the last signal I had in Ada was a sell

Signal on September 9th so remember September 9th is when he got the sell signal he called The Head and Shoulders in August and let’s kind of go back and look at when cardano actually peaked out in the market because it was at the beginning of September

2021 uh so let’s kind of pull this up here we will pull up the all and hopefully we can we can go to trading view if needed but I don’t think that we’re going to need to so you guys can see here in 2021 effectively card

Was at the peak right $291 August 30th and started coming down September 6 that week to 258 right so we were in that $3 range for a very short period of Time end of August early September of 20121 just one week or two weeks after Peter Brandt called The Head and

Shoulders top of the market for cardano and he was absolutely correct I ended up selling most of my well all of my Ada just a few months later at the beginning of 202 22 so Peter brand has called the market historically very accurately and now he is claiming that ethereum is

Going to see a 75% drop down to $650 Peter bran says classical chart patterns in price charts are not sacred they fail to perform according to textbooks all the time but if the rising wedge in ethereum complies with the script the target is $11,000 then $650

Now he said in the middle of December you guys can see December 18 2023 I shorted ethereum on Friday I have protective be stop for that uh that short so you guys can see he posts this that shows that it’s potentially a rising wedge not an ascending triangle

And he he follows up in uh following post that I’m trying to pull up here x is very slow recently let’s get this uh going so here’s the post he says all while the upper boundary of the rising wedge and ethereum continues to provide resistance ethereum is a rising wedge

Not an ascending triangle although Rising wedges can become running wedges and so these are this is all charting language you guys know I’m not really chartist but I like to follow chartists because I like to hear their reasoning now there’s a lot of what I call you

Know fake chartists on Twitter or X that basically are like oh well look at this Fibonacci line look at this Fibonacci line they’re literally only posting and I’ve already seen that my viewers are already noticing that we’re not even in the bull market yet and we’re already

Having people posting like oh look post your trades you know follow my trades you know it’s complete Ridiculousness charts don’t tell you the macroeconomic environment what else is going on uh the cyclical patterns in the market uh you know we’re on a four-year cycle there’s a lot of people that don’t think that

We’re going to capitulate we’re not going to go back down that we’re not going to correct before the Bitcoin Happ of 2024 and I just think that is fundamentally a flawed understanding of how the markets operate now these blue lines here are the November uh basically like November 8th or November 9th every

Single year because this is when I’ve identified the during this previous cycle the bottom of the market and the top of the market I mean you guys can see that right here the bottom of the market in 2022 was 15,500 when FTX collapsed the top of the

Market was right here by the way that was e ethereum this is Bitcoin you can see the top of the market was right here November 8th 2021 November 9th 2022 bottom of the market top of the market was November 9th 2021 effectively you know very close

To the bottom of the market was one year before so you can see one year up one year down one year sideways one year sideways on either side of the bull market and bare market and so that’s kind of where I think we’re starting to enter the uptrend here but there’s a big

Big butt yes there is going to be a capitulation point before the Bitcoin having you can see that what happened back in 2020 back in 2020 we know the pandemic began right here we had a huge drop in the price if you guys can see uh

And it was ethereum which is the yellow line and Bitcoin which is the candle line behind major drop after upward movement into 2020 and I think that that’s what we’re going to see we’ve been effectively going straight up you can see on both the Bitcoin chart which

Is the the candles the red and green line and the yellow line is ethereum and you can clearly see that ethereum has been going literally straight up since the middle of October so we’re now basically in the end of December so over two months we’ve been going straight up

And so this is going to fill back down this is basically how markets work you can see we went up here and then we came down here we went up here we came down here so every time we’re going up we’re going to have a similar reaction to the

Downside and I think that that is coming when I don’t know is it going to be sell the news event when Bitcoin ETF does or does not get approved maybe maybe not I don’t know but I think that we’re going to see capitulation in the first three months of the year

Probably my guesstimation are really pushing it in February that’s where every every indicator that I’ve looked at and every uh metric that I’ve looked at shows February which means give it a month you know before a month after and I think that’s we’re GNA have capitulation so you know you’re not

Going to know its capitulation till after the market capitulates so it’s a good time to kind of reposition beforehand keep some cash in the sidelines if you want to buy into the market during that dip but generally speaking yes I do think that we’re going into a bare Market I do think that

Ethereum has a very high likelihood of going under ,000 before we go above $10,000 let’s put it that way it’s the same thing with cardano hitting 20 cents before it hits $20 this is just statistically statistical probabilities of where these prices are probably going

To go in the shorter term and if you you know if you’re on a much longer time Horizon it probably shouldn’t matter now $650 for ethereum it you know that’s that’s a pretty uh aggressive you know prediction but let me let me remove here the Bitcoin price

Because I want you guys to see the bottom price uh for this cycle on ethereum and we can see that right here ethereum bottomed out in June of 2022 with many of the all coins and you can see that it basically went down it looks like to

$900 and so you know what we saw during the previous cycle as we were approaching the Bitcoin having was we saw a lot of altcoins retesting the lows and some actually even went below the lows but again very short period of time by the time most people realize that

We’re capitulating in the market we’re already starting to go back higher so they missed their opportunity what we saw that when FTX cled collapsed right when FTX collapsed everybody was freaking out and everybody was like talking about you know what what is the next company that’s going to go down how

Much lower we going to go down everyone want to be the next person the first person to call the next crash meanwhile the market went basically straight up after the crash right because that was the capitulation point and that was the bottom so we me sorry we may retest

These Market cycle lows of $900 and $1,000 and and you know very temporarily Dro to that $650 level that Peter brand is guesstimating and uh based on his timing here you know I would imagine it’s going to happen in the next few months that we’re going to see this

Correction as you can see this uh this wedge getting much much uh closer in so we’ll see what happens let me know what you guys think down below make sure you guys are subscribe to the channel give the video an absolutely free thumbs up that way you never miss a new video I’ll

See you tomorrow invest responsibly do your own research and crypto on