Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Bitcoin (BTC) just cleared a major obstacle at $90,000, and one of the market's top chartists is officially on board. Peter Brandt, known for his over 50 years of experience in trading and expertise for classical chart patterns, has publicly taken a long position in BTC.
After weeks of dropping below resistance, Bitcoin surged past $91,187 with conviction, hitting $93,730 as of yesterday.
Yuri MolchanThe price did not just go up a bit — it surged past a clear downtrend line, with big green candles that caught everyone's attention, even in a market that is used to theatrics. That kind of spike does not come around often without leaving a mark, convinced Brandt.
But for the veteran trader, this was not just about the trendline. It's a much deeper, multi-year setup — a complex inverted continuation head-and-shoulders pattern. Without that broader structure in place, the breakout would not have made it past his filter. That is the difference between seeing a pattern and seeing the context.
Alex DovbnyaNow that he is in the trade, Brandt is playing it by the book, but his own one. He has been moving up on stops aggressively toward breakeven, which is a classic move in his playbook. It reduces risk while keeping the potential for more upside.
It's a strategy that is all about sticking with the good trades and bailing on the bad ones.
Caroline AmosunWhat does it mean when a veteran like Brandt puts his money behind a move like this? It's not a prediction, but it's a sign that Bitcoin's latest surge might have more to it than just some short-term buzz.
Vladislav Sopov
Dan Burgin