{"id":112942,"date":"2019-09-02T11:18:19","date_gmt":"2019-09-02T18:18:19","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=112942"},"modified":"2019-11-07T02:51:46","modified_gmt":"2019-11-07T02:51:46","slug":"bitcoin-price-continue-parabolic-advance","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/bitcoin-price-continue-parabolic-advance\/","title":{"rendered":"Bitcoin&#8217;s price may continue its parabolic advance, says renowned trader"},"content":{"rendered":"<p><a href=\"https:\/\/cryptoslate.com\/people\/peter-brandt\">Peter Brandt<\/a>, a 40-years trading veteran, is back on the bullish side claiming that <a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">Bitcoin<\/a> likely <a href=\"https:\/\/cryptoslate.com\/peter-brandt-bitcoin-enters-its-fourth-parabolic-phase-taking-aim-at-100000\/\">resumed<\/a> its fourth \u201c<a href=\"https:\/\/cryptoslate.com\/peter-brandt-bitcoin-enters-its-fourth-parabolic-phase-taking-aim-at-100000\/\">parabolic advance<\/a>.\u201d<\/p>\n<h2>Parabolic Phases<\/h2>\n<p>The author of \u201cThe Diary of a Professional Commodities Trader,\u201d <a href=\"https:\/\/cryptoslate.com\/peter-brandt-bitcoin-enters-its-fourth-parabolic-phase-taking-aim-at-100000\/\">explained<\/a> earlier this year that Bitcoin\u2019s market valuation can be divided into three parabolic phases, based on 1-week charts.<\/p>\n<p>The first one started in July 2010, when BTC was trading around $0.05 and reached a high of $24.15 in January 2011. The second parabolic move took over two years to develop. BTC went from a low of $2 on October 2011 to a high of $1,142 on November 2013. Finally, the most recent one began in January 2015, taking BTC from $164 to $19,770 by December 2017, representing a 120x rise.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin takes aim at $100,000 target. <a href=\"https:\/\/twitter.com\/search?q=%24btcusd&src=ctag&ref_src=twsrc%5Etfw\">$btcusd<\/a> is experiencing its fourth parabolic phase dating back to 2010. No other market in my 45 years of trading has gone parabolic on a log chart in this manner. Bitcoin is a market like no other. <a href=\"https:\/\/t.co\/wE4j3riMgI\">pic.twitter.com\/wE4j3riMgI<\/a><\/p>\n<p>&mdash; Peter Brandt (@PeterLBrandt) <a href=\"https:\/\/twitter.com\/PeterLBrandt\/status\/1142271065936187392?ref_src=twsrc%5Etfw\">June 22, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Although Brandt suggested that Bitcoin could have entered a fourth parabolic phase when it broke the $4,200 price hurdle in April, he was expecting a retracement before the continuation of the bullish trend.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Big question re: analog year comparison is whether 10a rally will lead to 10b retest similar to 2013-2015 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw\">$BTC<\/a> <a href=\"https:\/\/t.co\/BCRKSqBxsP\">pic.twitter.com\/BCRKSqBxsP<\/a><\/p>\n<p>&mdash; Peter Brandt (@PeterLBrandt) <a href=\"https:\/\/twitter.com\/PeterLBrandt\/status\/1114567264714612736?ref_src=twsrc%5Etfw\">April 6, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Now that the coin retraced more than 34 percent from a yearly high of $13,870 to $9,070, and entered a consolidation period since June 26, it seems to be preparing for another upswing. The renowned technical analyst highlights the possibility that BTC could soon resume its uptrend and continue advancing through its fourth parabolic phase.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Possibility that <a href=\"https:\/\/twitter.com\/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw\">$BTC<\/a> has entered fourth parabolic phase <a href=\"https:\/\/t.co\/q4nAgkVJff\">https:\/\/t.co\/q4nAgkVJff<\/a> <a href=\"https:\/\/t.co\/PL2LQ4ANOY\">pic.twitter.com\/PL2LQ4ANOY<\/a><\/p>\n<p>&mdash; Peter Brandt (@PeterLBrandt) <a href=\"https:\/\/twitter.com\/PeterLBrandt\/status\/1168141519737491461?ref_src=twsrc%5Etfw\">September 1, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Bitcoin technical analysis<\/h2>\n<p>Brand\u2019s perspective aligns with a descending triangle that appears to be forming on the 1-day chart. This is considered a continuation pattern that could breakout in the same direction as the trend that was in place prior to the triangle\u2019s formation. A move above the upper descending trendline signals that bullish momentum is likely to resume or even intensify. By measuring the height from the upper and lower trendline the descending triangle forecasts a bullish target of 34.50 percent upon the breakout point.<\/p>\n<p>Nonetheless, descending triangles can also form as bearish patterns showing that demand for BTC is weakening. Thus, if Bitcoin breaks to the downside instead it could try and reach $6,200.<\/p>\n<figure style=\"width: 1028px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/es4Beko5d9NtgsBTEMlSBdIKGgu-7Sz31Py7aiUecVOCP8rvf83LRc_ceq4sIPmfedIppWce3nrxFhSm81LRW72J5QyPtyN6mqUQ59XVVIvUI1Eq6LgGxSrY7AcyCDw_Cx-4aLW5\" alt=\"Bitcoin US dollars price chart\" width=\"1028\" height=\"620\" \/><figcaption class=\"wp-caption-text\"><a href=\"https:\/\/www.tradingview.com\/chart\/BTCUSD\/\">BTC\/USD<\/a> by TradingView<\/figcaption><\/figure>\n<p>Despite the opposing views that the descending triangle pattern presents, the market sentiment around Bitcoin seems bullish. <a href=\"https:\/\/cryptoslate.com\/bakkt-bitcoin-futures-sept-23-catalyst-btc-trend\/\">Bakkt promises<\/a> to take Bitcoin to institutions with <a href=\"https:\/\/cryptoslate.com\/bakkt-approval-cftc-bitcoin-futures-launching\/\">physically-delivered<\/a> futures and it\u2019s less than a year to the block reward halving. Given these factors, Peter Brandt is setting his sights high with a <a href=\"https:\/\/cryptoslate.com\/peter-brandt-bitcoin-enters-its-fourth-parabolic-phase-taking-aim-at-100000\/\">$100,000 BTC<\/a> price prediction.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Peter Brandt, a 40-years trading veteran, is back on the bullish side claiming that Bitcoin likely resumed its fourth \u201cparabolic advance.\u201d Parabolic Phases The author of \u201cThe Diary of a Professional Commodities Trader,\u201d explained earlier this year that Bitcoin\u2019s market valuation can be divided into three parabolic phases, based on 1-week charts. The first one [&hellip;]<\/p>\n","protected":false},"author":148,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15323,6849],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin&#039;s price may continue its parabolic advance, says renowned trader<\/title>\n<meta name=\"description\" content=\"Peter Brandt, a 40-years trading veteran, is back on the bullish side claiming that Bitcoin likely resumed its fourth \u201cparabolic advance.\u201d\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/bitcoin-price-continue-parabolic-advance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin&#039;s price may continue its parabolic advance, says renowned trader\" \/>\n<meta property=\"og:description\" content=\"Peter Brandt, a 40-years trading veteran, is back on the bullish side claiming that Bitcoin likely resumed its fourth \u201cparabolic advance.\u201d\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/bitcoin-price-continue-parabolic-advance\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-02T18:18:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-11-07T02:51:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/11\/cryptoslate-cover.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ali Martinez\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Bitcoin&#039;s price may continue its parabolic advance, says renowned trader\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ali Martinez\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/bitcoin-price-continue-parabolic-advance\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/bitcoin-price-continue-parabolic-advance\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/ali-martinez\/#person\",\"name\":\"Ali Martinez\",\"url\":\"https:\/\/cryptoslate.com\/author\/ali-martinez\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/ali-martinez\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/ali-martinez\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2019\/04\/victor-charles-profile-e1555981456737-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2019\/04\/victor-charles-profile-e1555981456737-300x300.jpg\",\"caption\":\"Ali Martinez\"},\"jobTitle\":\"Analyst\",\"description\":\"Ali came across Bitcoin\u2019s whitepaper in 2014. 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Martinez","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptoslate.com\/#\/schema\/person\/image\/","url":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2019\/04\/victor-charles-profile-e1555981456737-150x150.jpg","contentUrl":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2019\/04\/victor-charles-profile-e1555981456737-150x150.jpg","caption":"Ali Martinez"},"description":"Ali came across Bitcoin\u2019s whitepaper in 2014. He was so fascinated by the idea of a decentralized, borderless, and censorship-resistant currency that he started accumulating BTC since then. Ali has been working as a content writer for some of the leading media outlets in the cryptocurrency industry.","url":"https:\/\/cryptoslate.com\/author\/ali-martinez\/"}]}},"_links":{"self":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/112942"}],"collection":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/users\/148"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/comments?post=112942"}],"version-history":[{"count":3,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/112942\/revisions"}],"predecessor-version":[{"id":112949,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/112942\/revisions\/112949"}],"wp:attachment":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/media?parent=112942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/categories?post=112942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/tags?post=112942"},{"taxonomy":"post_folder","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/post_folder?post=112942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}