Veteran Trader Peter Brandt Predicts Major Litecoin Rally, Says Bitcoin Long-Term Bullish

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Trading veteran Peter Brandt is a long-term Bitcoin (BTC) bull, but he expects Litecoin (LTC) to surpass the major crypto soon.

The trader tells his 580,000 Twitter followers that Litecoin is about to embark on a massive run after breaking through resistance from its September peak of $ 239.12.

Litecoin broke the September high due to the increase in volume and WBBs, so expect a retest of the 2021 high at around $ 395.

Source: Peter Brandt / Twitter

Brandt did not define the term “WBB”. It could refer to broad-bodied bars, like in widening candle bodies, or weekly Bollinger Bands, a common trading indicator currently showing expansion for LTC. Either way, both indicators point to a bullish outlook for the crypto asset.

From a low of $ 193 this week, LTC has climbed 47% and is currently trading at $ 283.94.

Litecoins short-term price action aside, Brandt is keeping an eye on Bitcoin long-term as a haven against inflation.

“There is one thing in the markets that I am absolutely sure about the declining value of the US dollar.

$ 1 when I was born is worth 8 cents today.

$ 1 today probably won’t be worth anything when my grandchildren are my age.

BTC.

The trader tells skeptics that he has a lot of experience in short selling various cryptocurrencies, but has been on Bitcoin for a long time since April 2019.

Note to my trolls (assuming you can read).

Let me type this very slowly so you can understand that I have bypassed cryptos only once in my life (November 14, 2018).

I have been continuously long BTC since early April 2019. I want the price of Bitcoin to rise (spelled UP).

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Featured Image: Shutterstock / Elnur / Natalia Siiatovskaia

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