Peter Brandt is bracing for bigger price drops as technical indicators suggest bulls will yet be spared an apocalyptic crash.
Bitcoin (BTC) is expected to dip as low as $32,500 in the short term after several crucial support levels faded to nothing on April 23.
BTC/USD hit lows not seen since early March on Friday, as analysts line up their prognoses — and buy orders — in the latest Bitcoin price correction.
Brandt plans to buy Bitcoin at $32,501
BTC pullbacks tend to frighten new investors, while old hands seem to battle each other for who can put on the coolest persona as the numbers fall.
As the largest cryptocurrency fell through $53,000 and then $50,000, however, signs of bearishness for the short term began to surface.
For veteran trader Peter Brandt, well known for calling various BTC price phenomena in recent years, there was still much more room left to buy the dip.