Career Trader Subtly Hints Of Bitcoin Parabola Breakdown With Fractal Diagram

Bitcoin has fallen below $35,000, and while given the asset’s recent highs sounds like a sizable correction, the price per BTC is still nearly 1000% higher than where it was less than one year ago. After such extreme moves to the upside, often come crashes that eliminate much of the progress made, until the parabola starts all over again.

Career trader Peter Brandt has shared a chart that subtly hints that the recent Bitcoin price parabola could begin to break down. The last time he did so, he accurately called an 80% decline in price. Here’s a look at what might come next if that’s the case.

Paying Attention To Peter Brandt Costs Nothing, Pays Out In Profits

Peter Brandt is a living legend, spending an entire career professionally trading commodities, stocks, and more recently, cryptocurrency. Brandt has long been interested in Bitcoin, has shared his commentary about the market and related price action via his Twitter, and has contributed to the Bitcoin.Live platform.

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Because of Brandt’s reputation and experience level, when he speaks, it tends to be worth paying attention to. Those who wisely took profit during the last major Bitcoin rally after the trader claimed the parabola was violated, would have even been given almost the exact target to which the cryptocurrency fell to nearly a year later.

Related Reading | Proper Altcoin Season While Bitcoin Drops Has Traders “Cautious”

The trader famously called for an 80% or more retrace following the 2017 peak of $20,000. In 2018, Bitcoin traded at $3,200. Brandt nailed it, and now he’s back at it again.

bitcoin peter brandt career trader crypto parabolaPeter Brandt calls attention to the current rally resembling this previous parabola breakdown | Source: BTCUSD on

Brandt Brings Up Painful Reminder Of Past Bitcoin Parabola Broken

Brandt points out the last time he shared a price chart exhibiting a Bitcoin parabolic curve, just before the bear market took hold.

In the image, originally shared on January 8, 2018, a “bump, hump, lump, and dump” repeating pattern shows each parabolic base, just before the breakdown and resulting downtrend that follows. The chart above compares the rally Brandt references alongside the current parabolic rally.

Related Reading | The Striking Similarities Between The 2017 Bitcoin Peak And Now

Price patterns and even ranges appear to line up eerily accurately, with the primary discrepancy being the Black Thursday pandemic-driven panic selloff. Aside from that, the similarities are striking.

Repeating price patterns like this are called fractals. If what follows this near flawless fractal is also similar, the chart below would demonstrate what comes next.

bitcoin peter brandt career trader crypto parabola

bitcoin peter brandt career trader crypto parabola

Here's what happened after the parabola breakdown | Source: BTCUSD on

Remember, Brandt called for an 80% correction of the parabolic move, and was correct. And while he hasn’t brought up that dangerous data point since back then, even the short-lived parabolic phase in 2019 ultimately corrected over 70%.

However, any downside is contingent upon the current parabola breaking down, and the new “hump, slump, pump, and dump” pattern failing to repeat.

Featured image from Deposit Photos, Charts from


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Bitcoin Uptrend From $20K Has Been Lost According To Parabolic Indicator

Bitcoin price is still trading well above $30,000 after a nearly $5,000 retreat from highs set at the turn of the new year. But during the first decent-sized correction in the cryptocurrency since $20,000 was broken, one “parabolic” indicator could be suggesting that the daily uptrend has been lost.

Here’s a closer look at the Parabolic SAR indicator and what it currently says about the first-ever cryptocurrency and if its unstoppable rally will continue.

Bitcoin Daily Uptrend Possibly Finished For Now, According To Parabolic SAR

When Bitcoin touched down to $3,800 on Black Thursday, retesting its bear market bottom and confirming it as resistance turned support, it gave bullish investors all the confidence in the world that the cryptocurrency had staying power.

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If that frightening day didn’t shake out holders, then nothing would. Since then, BTC has been moving off of exchanges, and the digital gold narrative has taken over the world of finance.

Related Reading | Bitcoin Closes 2020 As Best Performing Asset Of The Last Decade

In addition to retail FOMO picking back up, institutions are now buying Bitcoin with everything they’ve got – suddenly interested in the asset to protect and store their vast wealth.

All that wealth pouring in before the price per BTC rises too high, has caused the cryptocurrency in just one year rise from $3,800 to just under $30,000 in 2020. The moment the New Year turned, the cryptocurrency added another nearly $5,000 in less than five days.

But as of last night, the asset’s deepest correction began, and it possibly ended Bitcoin’s uptrend on daily timeframes, according to the Parabolic SAR indicator.

bitcoin parabolic sar

bitcoin parabolic sar

The Parabolic SAR indicator has been hit on daily timeframes | Source: BTCUSD on

Not So Fast: Breakdown Of Daily Parabola Leaves High Timeframe Momentum In Tact

The Parabolic SAR (stop-and-reverse) indicator lives up to its name by potentially spotting when an asset’s parabola has stopped and reversed.

In the image above, the red wick on the nasty daily BTCUSD candle touched the SAR dot below the price action, causing a new SAR to appear above. When this happens, it typically suggests the trend is about to reverse.

The tool has been described as up to 80% accurate, and it is also helpful for traders seeking to employ a trailing stop loss strategy, where stop losses are moved higher and higher in profit just below each SAR dot. When the price action comes back down and stops out the trade, the trader is profitable and can rest assured they were stopped out at a point where the trend was ending anyway.

But like all indicators, their use doesn’t only apply to daily timeframes, and on weekly and monthly timeframes, the uptrend is at very little risk at current prices.

Related Reading | Analyst: Bitcoin Parabolic Trend Is “Close To A Breakdown”

On weekly timeframes, for the parabola to be violated, Bitcoin must pass below roughly $22,000. For the monthly uptrend to conclude, price action must retrace to as low as $6,100 before having to worry about another long-term bear phase.

With those numbers so low, it is difficult to imagine them being reached any time soon. And with high timeframe signals the most dominant, even a short-term retrace on daily timeframes, won’t damage the integrity of the greater bull market.

It is worth noting that the Parabolic SAR indicator rises as price does, so these figures will change depending on which way the cryptocurrency trends next.

To consider the daily uptrend to be resumed, Bitcoin will need to take out $34,750 and keep to keep trucking higher from there.

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