Well-known technical analyst Peter Brandt expressed the opinion that, driven by FOMO of many traders, the price of Bitcoin will soon overcome the $ 10,000 mark.
This is the FOMO phase of the advance. Once the majority of sold-out crypto bulls capitulate and chase this rally a more sizable correction will likely occur, stopping out the same bulls, who are chasing this advance. pic.twitter.com/xqeIWKfwEQ
— Peter Brandt (@PeterLBrandt) May 27, 2019
So, in his opinion, the main short-term goal of further BTC growth is the mark of $ 10,615, and the intermediate - $ 9,321.
Brandt stressed that a rather deep correction is not far off - the bulls will certainly want to take profits. At the same time, the sale will stop buyers trying to jump into the outgoing train.
Top 10 Cryptocurrencies | 27.05.2019
Currently the market is booming. The average rate of bitcoin is at around $ 8,721, the BTC dominance index is 57.23%.