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Peter Brandt: No Way Did I Suggest a Big Move Up Soon

  • Alex Dovbnya
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    Trading veteran emphasizes that the expression ‘coiling up’ has nothing to do with a potential XRP spike

Peter Brandt: No Way Did I Suggest a Big Move Up Soon
Cover image via u.today

On Jan. 23, Peter Brandt took to Twitter to show his dissatisfaction with the way U.Today covered his recent analysis pertaining to XRP. The legendary trader believes that his words were misinterpreted, and XRP is not up to a big move (at least, not in his predictions).

The initial U.Today article mentioned the fact that the expression ‘coiling up’ was used from the perspective of technical analysis (thus, it should not be taken literally).

Coiling up is related to the trading signal that is an indicator of volatility and not bullish or bearish moves.

Coiling action is predicated on the volatility of a stock and is not in any way a harbinger of future price direction

However, the author of the article still assumed that there indeed could be a price spike due to positive news surrounding the second biggest cryptocurrency by market capitalization.

If Mr. Brandt’s opinion was represented in the wrong way, U.Today apologizes for doing so. Our online publication stands for objective and fair-minded journalism.
 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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