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In a social media post on the X social media network, prominent commodity trader Peter Brandt has opined that Bitcoin's post-halving rally may have already started.
According to Brandt, the five-month inverted expanded triangle has now been completed.
"The series of lower highs and lower lows since March has come to an end," he said.
At the same time, Brandt has stressed that follow-through will be important for the leading cryptocurrency.
Earlier today, the leading cryptocurrency spiked to an intraday peak of $71,540, according to CoinGecko data.
After giving up some gains, the leading cryptocurrency by market cap is changing hands at $71,147.
Alex DovbnyaIn June, Brandt predicted that the leading cryptocurrency could end up reaching a new record high around September 2025.
Based on the previous bull market cycles, the prominent trader believes that the cryptocurrency could surge to $150,000. Of course, he also cautioned investors that there is no "fool-proof" method of analysis. "Of course, all of these targets could be wrong. Thus, I always trade with risk management in mind," the trader said in the most recent social media post.
Earlier this month, Brandt predicted that Bitcoin was on the verge of the "most anticipated" and "hoped-for" breakout in history.
On top of that, the chartist stated that "long Bitcoin" was the "single largest" speculative position.
As reported by U.Today, the Bitcoin price has been bolstered by strong inflows recorded by spot ETFs. These products have now logged five consecutive days in the green.
Vladislav Sopov
Tomiwabold Olajide
Dan Burgin