In a new tweet, commodity trade veteran Peter Brandt believes the real price of Bitcoin is more important than any other metric when it comes to determining another pivotal move.   

Brandt explains that all the indicators are actually derived from the price, which makes them purely optional.  

The naked truth

By focusing on the price of a certain asset, the trader will be able to distill all the noise. It is important to observe where the price is going as it can serve as a stronger signal than any separate indicator. 

For example, if it hits a retarder after reaching a certain level, it could potentially change the current trend (regardless of the reason for the accident).  

That being said, Brandt makes it clear that he is not against the use of derivatives. He simply argued against applying a large number of indicators that could confuse novice traders.      

Recently, the trader also ridiculed an  extremely complicated Bitcoin price chart with Fibonacci circles, which predicted that the price could drop to $ 1,800 in the second half of 2020. 

Bitcoin is not generous on indices

Despite the importance of observing Bitcoin's price action , looking at the chart every day will give traders little clue about the next move.

Brandt explains that the price of BTC  does not speak every day, and only the recruits expect that the price announces "every size and jag".

In recent years, there has been a "twelve days" when the market Bitcoin rang "bells and whistles" for those who have listened, according to the trader. 

In April, Brandt tweeted that there was a “50 percent” chance that BTC could skyrocket to $ 50,000, but it could still become a Beanie Baby style.