Bitcoin (BTC) has only removed a major obstacle to $ 90,000, and one of the leading market charts is officially riding. Peter BrandtKnown for his over 50 years of trading experience and expertise for classical chart patterns, has held a long position at BTC.
After weeks of falling below the objection, Bitcoin passed $ 91,187 with a belief, hitting $ 93,730 yesterday.
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The price doesn't just go up a bit – it has passed a clear downtrend line, with large green candles that caught everyone's attention, even in a market used in theatrics. This type of spike does not often go around without leaving a mark, Brandt is convinced.
But for veteran businessmen, it's not just about the trend. This is a deeper, multi-year setup-a complex inverted continuation of the head-and-shoulder pattern. Without this broader structure in place, the breakout would not want its filter to pass. That's the difference between seeing a pattern and seeing the context.
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Now that he's in trade, Brandt plays a book, but himself. He is moving at the stops aggressively toward Breakeven, which is a classic move to his playbook. This reduces the risk while maintaining the potential for more upside down.
It is an approach that is all about sticking to great trade and bail on the evil.
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What does it mean when a veteran like Brandt puts his money behind a motion like this? This is not a guess, but it is a sign that Bitcoin's latest climbing may have more than some short-term buzz.
