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2 clusters · 4 sources · 18 days · First seen · Last updated
Peter Brandt Bitcoin market analysis
Overview
Trader Peter Brandt has shifted to a bullish outlook on Bitcoin following significant technical developments.
Initially, Brandt reversed a bearish stance after Bitcoin broke through resistance near $64,000, completing an inverted head-and-shoulders pattern on the CME Bitcoin futures chart. He noted he decided to “buy the breakout for better or worse” as the price reached approximately $72,335.
Subsequently, Brandt utilized a logarithmic chart from 2019 to suggest that Bitcoin is currently in its fourth parabolic phase. He observed that recent price action testing resistance near $82,000 aligns with an ascending channel from his previous models. Brandt highlighted that, unlike the 2019 cycle, the current market is bolstered by an “institutional floor” consisting of systematic capital inflows and spot ETFs.
Entities
Timeline
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6 days ago
[BUSINESS] 2 sourcesPeter Brandt revives 2019 parabolic Bitcoin forecastTrader Peter Brandt has revived his 2019 parabolic chart for Bitcoin, suggesting the asset's bullish trend remains intact and supported by new institutional demand via spot ETFs.
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23 days ago
[BUSINESS] 3 sourcesPeter Brandt turns bullish on Bitcoin after technical breakoutVeteran trader Peter Brandt has shifted from a bearish to a bullish Bitcoin outlook, opening a long position after the cryptocurrency completed a rare inverted head-and-shoulders breakout on CME futures.
Sources
bitcoinethereumnews.com · criptotendencias.com · livenews.co.nz · nu-vera.com