Perhaps the decline on Feb 9 was the start of a milder correction. Perhaps it was the start of major correction or even the recommencement of the previous bear trend.
Even if the decline was part of a milder correction, it is almost NEVER that just one hard down red candle ends the correction. So, at a minimum I would expect another hard down candle.
Thank you for sharing your opinion with us. Below you can see ours. Hope it makes a constructive conversation:
Th3Unkn0wn
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Mr. Peter LBrandt, I write you a question, would you please answer?
SwallowPremium
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Nice work Peter - keep the good work!
wrsr6gvkmk
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))) up very up
Yelli_trades
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I'm looking for longs though
Tradersweekly
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Reasonable.
CryptoMonstersOfficial
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Nice presentatioj 👍
Gunslinger2005
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pretty sure you were super bullish before that first big red down day
noble1ones
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@Gunslinger2005, Actually on January 29 2023 Mr.Brandt stated, and I quote: "The initial target of 25,500 is within striking distance, and it is EXTREMELY important for Bitcoin to reach this level quickly, lest severe testing the fulcrum could occur."
In other words, Mr.Brandt appears to have been aiming for $25,5k and mentioned that if that didn't occur quickly in order to avoid the risk of a severe correction near the bottom pattern which he labeled as a fulcrum, then a deep correction near that pattern could occur.
Furthermore, mr.Brandt has now changed his outlook from a potentially severe correction to a 'perhaps' milder one in the beginning and latter part of his comment.However, he clearly demontrated that he doesn't know,i.e: perhaps this and or perhaps that. The range of the 'Hard Down Candle' Mr.Brandt mentioned is simply a decisive breakout of the distribution pattern that occurred at the top of the current parabolic(institutional buying due to trend reversal)leg. The move got a little ahead of itself and is now correcting. In my humble opinion.......