Peter Brandt has once again drawn attention to Bitcoin by identifying a technical pattern that, in his view, could support a new upward leg. The veteran trader said that the recent price reaction formed a relevant structure and summarized his take by saying: "This could be powerful".
In his analysis on X, Brandt highlighted the combination of a bear trap with a strong recovery impulse.
According to him, this type of formation should not be ignored, especially after the reversal seen in the market over the past few days.
Bitcoin even pulled back to the US$ 75,000 region after the U.S. Senate blocked the Clarity Act and the Fed resumed raising interest rates. The decline, however, lost momentum when the SEC and CFTC began discussing proposals for the sector, which helped restore buying appetite.
Brandt said he had been buying since August, when the asset broke above US$ 70,000. Willy Woo also endorsed the reading and said that purchases gained strength even in February, as sellers gradually ran out over time.
In addition to his outlook on price, Brandt also commented that he is preparing for a gradual retirement. At 79 years old and with 51 years in the market, he said he plans to scale back teaching and publications, although he does not see a complete exit from the sector.
$BTC $ETH
In his analysis on X, Brandt highlighted the combination of a bear trap with a strong recovery impulse.
According to him, this type of formation should not be ignored, especially after the reversal seen in the market over the past few days.
Bitcoin even pulled back to the US$ 75,000 region after the U.S. Senate blocked the Clarity Act and the Fed resumed raising interest rates. The decline, however, lost momentum when the SEC and CFTC began discussing proposals for the sector, which helped restore buying appetite.
Brandt said he had been buying since August, when the asset broke above US$ 70,000. Willy Woo also endorsed the reading and said that purchases gained strength even in February, as sellers gradually ran out over time.
In addition to his outlook on price, Brandt also commented that he is preparing for a gradual retirement. At 79 years old and with 51 years in the market, he said he plans to scale back teaching and publications, although he does not see a complete exit from the sector.
$BTC $ETH
