Chartist Peter Brandt claims that traders shouldn’t chase potential breakouts in order not to be burned by FOMO
one in Recent TweetLegendary chartist Peter Brandt claims he won’t worry about missing a price breakout when asked about the Shiba Inu.
A Twitter user urged Brandt to pay more attention to the popular meme coin since he apparently believes that the token is on the cusp of a major price rally.
However, Chartiste notes that those who pursue breakouts usually drop out because of fear of mission out (FOMO). According to Brandt, such a habit can be disastrous for a trader.
The price of the SHIB token is currently changing hands at 0.000011 on the Binance exchange. The token is in the red after declining roughly 0.27%.
The meme token experienced a massive rally in mid-August, rising over 42% in a single day on August 14th. However, the rally ended as a flash in the pan, and the cryptocurrency withdrew all its gains by the end. month.
SHIB also ended September in the red, declining by 6.53%.
However, the upcoming launch of the Shiba Eternity game, which will take place worldwide on October 6th, is expected to be a major bullish catalyst for the coin.
Could Bitcoin plunge to $8,000?
Brandt also recently ran a Twitter poll to find out what his followers think about Bitcoin’s price performance.
More than 41% of respondents believe that Bitcoin will drop to $12,000 before another bull run begins. About 20% of them are convinced that bitcoin could drop to $8,000, which is the goal of Scott Minradt of the Guggenheim.
A third of the respondents believe that the low was established back in June at the $17,600 level.
