Peter Brandt: Bitcoin redefines the concept of ‘overbought’

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A new Bitcoin comment came from veteran market analyst and investor Peter Brandt. Stating that Bitcoin had historically experienced its third biggest parabolic rise shortly after New Year’s Eve, Brandt stated that the market is currently in an overbought state and said “Bitcoin is redefining the term overbought”.

The printing of the congress building in the USA almost served Bitcoin. At the time of the events, Bitcoin refreshed the record by exceeding 36 thousand before and 37 thousand dollars after midnight TSI. Experienced stockbroker Peter Brandt added a new comment about the biggest crypto currency and made the following assessment on his Twitter account:

“Bitcoin redefines the concept of ‘overbought’. Overbought occurs in bull markets and remains so. Often excessive purases occur in the big bull markets. There have always been excessive purchases in the bull markets in history. The red arrows on the graph show the midpoint of the parabolic progression. ”

Brandt put a screenshot of another tweet from 2017 under this tweet, saying, “Here is the violation of the parabolic rise of 2015/2017”.

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