Peter Brandt, a veteran trader, believes that one precious metal will rise in value.
Legendary trader, X, tells 835.400 of his followers that palladium will likely print further rallies. However, he warns the metal may first retrace over 17% its current price.
Palladium will go much higher either after this dip or from now on.
Palladium currently trades for $1,768 an ounce, down almost 6% from the previous day.
The trader then says that after an explosive breakout, platinum could be nearing a correction.
PMs have been entered into blow-off tops. It is impossible to predict the top of a blow-off and you should never short it. Price wise blow offs are great, but time-wise we’re close to the intermediate top. If you’re one of those rookies who do this, then time stamp it.
I’m not saying that this is or will be the best forever. You aren’t a novice. There are too many bulls who think that they have it all figured .”
At the time of this writing, platinum is currently trading at $2,265 an ounce, down by more than 1% from yesterday.
The trader also warns of a possible deep Bitcoin correction, based on previous cycles. He predicts that the next top cycle will be in four years.
Bitcoin is a unique currency that may never be seen again. BTC’s 15-year history has seen five logarithmic parabolic gains, followed by a minimum of 80% drop (current cycle is not yet complete )…
“I have predicted that the next bull-market high will occur in September 2029.”
Bitcoin has fallen marginally in price today, trading at $87,554.
Please follow us at X@InvCryptoDaily
Subscribe for email alerts to avoid missing a beat
___________________
___________________
Images Can Be Found on Pixabay Creative Commons and Midjourney
As new information becomes available, this post may change.
This site is for entertainment only. Click here to read more
