Peter Brandt Calls Rally For Litecoin After Breaking Above Resistance
Veteran trader Peter Brandt expects Litecoin (LTC) to outperform Bitcoin (BTC) in the short-term, but remains bullish on BTC in the longer term.
Brandt shared with his 581.3K followers on Twitter followers that Litecoin looks ready to restest its previous around $400, after breaking through resistance from its September peak of $239.12.
“Litecoin has broken above September high on expanding volume and WBBs so expect retest of 2021 high at $395 or so.”
Litecoin $LTC has broken above Sep high on expanding volume and WBBs so expect retest of 2021 high at 395 or so. pic.twitter.com/BkG0zjo8dW
At the time of writing Litecoin trades at $268, with 31% gains on the weekly chart.
With nearly 40 years of experience in the financial markets, Brandt says that Bitcoin is long-term as a safe haven against inflation.
“There is one thing in the markets I am absolutely sure of – the declining value of the US dollar.
$1 when I was born is worth 8 cents today.
$1 today will likely be worthless when my grandkids are my age.
BTC.”
There is one thing in the markets I am absolutely sure of — the declining value of the U.S. Dollar $DX_F $1 when I was born is worth 8 cents today $1 today will likely to be worthless when my grand kids are my age$BTCpic.twitter.com/bkhlvbZnZD
He also sent out a sarcastic tweet to his haters, saying that he has in the past shorted crypto, but has been “continually long” on Bitcoin since April 2019.
“Note to my trolls (assuming you can read).
Let me type this really slow so that you might understand – I have only shorted cryptos once in my life (Nov 14, 2018).
I have been continually long BTC since early Apr 2019. I want Bitcoin price to go UP (spelled U P).”
Note to my trolls (assuming you can read)
Let me type this really slow so that you might understand — I have only shorted cryptos once in my life (Nov 14, 2018)
I have been continually long $BTC since early Apr 2019. I want Bitcoin price to go UP (spelled U P)
