Legendary trader Peter Brandt shared his opinion on the current price movement of bitcoin, suggesting that the largest cryptocurrency has not yet reached the bottom of the correction due to the infinitely small trading volume.
Impact of volume. The key downturns in BTC came amid a panicky surrender of large volumes.
What should (yet ???) happen. Who has any considerations ???
Implications of volume
Key bottoms in $BTC have occurred with high volume panic capitulation
That has (yet???) to happen
Thoughts??? pic.twitter.com/dYmDNADxuP
— Peter Brandt (@PeterLBrandt) December 20, 2021
The slow decline suggests that we still have to worry about price losses before the bulls regain control of the market.
Analyst Willie Wu is convinced that there are no signs of a sell-off, which indicates that the hodlers are in good mood. In his opinion, the market is now in a consolidation phase.
Returning to Brandt, we note that he urged traders to look at the formation of a bearish double top, while the charting specialist made it clear that this pattern has not yet been confirmed.
Bitcoin started the last month of the year with a big sale. The rate of the largest cryptocurrency fell to $ 42,000, now its price is fluctuating in the range of $ 46,000.
The current price of the top cryptocurrency is $ 46,400.
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