Peter Brandt has once again drawn attention to Bitcoin after identifying a technical pattern that, in his view, could support a new leg up. The veteran trader stated that the recent price reaction formed a relevant structure, summarizing his analysis by saying, "This could be powerful."

In his analysis on X, Brandt highlighted the combination of a bear trap with a strong recovery momentum. According to him, this type of formation should not be ignored, especially after the reversal seen in the market in recent days.

Bitcoin fell to around the $75,000 region after the US Senate stalled the progress of the Clarity Act and the Fed raised interest rates again. However, the decline lost momentum when the SEC and CFTC began discussing proposals for the sector, which helped restore buying appetite.

Brandt mentioned that he had been buying since August, when the asset broke above $70,000. Willy Woo also endorsed the reading, stating that buying gained strength back in February, with sellers becoming exhausted over time.

In addition to his market outlook, 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 on teaching and publishing, though he does not envision a complete exit from the industry. #BTC☀️