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Legendary Trader Peter Brandt Says Dogecoin All-Time Highs Near, Predicts Bitcoin Will ‘Rock’ Gold – Here’s Why

n70products by n70products
November 7, 2024
in Altcoin
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Legendary Trader Peter Brandt Says Dogecoin All-Time Highs Near, Predicts Bitcoin Will ‘Rock’ Gold – Here’s Why
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Veteran dealer Peter Brandt says that Bitcoin (BTC) is ready to vastly outperform gold after printing a bullish sample on the longer-term chart.

Brandt shares a chart together with his 745,000 followers on the social media platform X exhibiting Bitcoin in a transparent uptrend when priced in gold (BTC/XAU).

Based on Brandt, BTC/XAU has printed a three-year-long inverse head and shoulders (H&S), with the ultimate a part of the sample – the suitable shoulder – enjoying out now.

An inverse H&S means that demand for an asset is rising with out the value having to revisit the lows.

“Bitcoin or Gold – which retailer of worth is king BTC/XAU chart has accomplished a channel serving as the suitable shoulder of a large continuation inverted H&S Bitcoin goes to rock Gold regardless of what
[gold advocate and Bitcoin critic] Peter Schiff thinks or says.”

Image
Supply: Peter Brandt/X

At time of writing, Bitcoin is buying and selling at $74,547, just under its most up-to-date all-time excessive hit on November fifth.

Brandt additionally has his eye on Dogecoin (DOGE), the biggest memecoin by market cap, and Elon Musk’s favourite cryptocurrency.

The seasoned dealer says that new all-time highs (ATHs) are imminent after forming an inverse H&S and breaking out of a channel.

“In Musk we Belief

DOGE confirms channel breakout with large underlying value accumulation and new ATHs across the nook.”

Image
Supply: Peter Brandt/X

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Disclaimer: Opinions expressed at The Every day Hodl are usually not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your individual threat, and any losses you might incur are your duty. The Every day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Every day Hodl an funding advisor. Please word that The Every day Hodl participates in affiliate marketing online.

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