Renowned trader Peter Brandt, famous for accurately predicting Bitcoin’s major 2017 crash, is now flipping bullish on BTC. After months of Bitcoin stagnating, Brandt sees signs of a potential breakout that could finally end the long correction phase. Crypto traders, who may have been feeling the weight of this market uncertainty, might just have something to get excited about again.
In his recent analysis, Brandt pointed out a megaphone formation—a technical pattern that often hints at a bullish continuation. Essentially, if Bitcoin can push through a crucial resistance level near $72,000, we could be witnessing the start of a new bullish chapter. What’s interesting here is that Brandt has taken an “anticipatory” stance, buying 2.7 BTC with confidence that Bitcoin could be ready to soar. His reasoning stems from Bitcoin’s breakout from an inverse head and shoulders pattern, another bullish signal within this broader megaphone structure.
He further explained that the weekly chart has been showing a five-month broadening triangle or megaphone, which suggests a big move could be on the horizon. Brandt, known for his precise technical analysis, says he’s keeping a protective stop just below Friday’s low as a safety net. While Bitcoin hasn’t yet solidified a new trend, the signs of bullish momentum are building. Brandt has opened up long positions in Bitcoin, signaling a growing belief in BTC’s ability to power through its current resistance levels.
As of now, Bitcoin is trading just above $63,000. While there’s a bit of day-to-day fluctuation, Brandt’s analysis gives traders hope that a breakout above $72,000 might not just be a dream anymore—it could be coming soon.
So, for those of you in the crypto world, this could be the signal to start paying closer attention. Peter Brandt, a seasoned market expert, has his eyes on Bitcoin’s next move, and you should, too. After months of waiting, the tide may finally be turning.
