- Peter Brandt signals Bitcoin’s post-halving rally may be starting as a major technical pattern concludes.
- Bitcoin recently hit an intraday peak of $71,540, reflecting heightened market interest in Brandt’s analysis.
- Spot Bitcoin ETFs have seen five consecutive days of inflows, indicating strong institutional support for Bitcoin.
Prominent trader Peter Brandt, widely known for his accurate market predictions, recently suggested that Bitcoin’s anticipated post-halving rally might already be in motion. Brandt, in a social media update on X, attributed this development to the completion of a five-month inverted expanded triangle pattern in Bitcoin’s chart, which he interprets as a crucial turning point.
Lower Highs and Lows Sequence Ends
According to Brandt, the continuous decline in Bitcoin’s highs and lows observed since March has now concluded, which signals potential upward momentum for the cryptocurrency. This shift could mark the early stages of a new growth phase for Bitcoin, which is often seen following the network’s periodic halving events. “The series of lower highs and lower lows since March has come to an end,” Brandt confirmed, underscoring the importance of this reversal.
On the same day Brandt posted his analysis, Bitcoin reached an intraday peak of $71,540, according to data from CoinGecko. Although Bitcoin subsequently retreated slightly, it maintained a price of $71,147 at the time of Brandt’s announcement, reflecting strong interest and activity in the market. Recent price gains have added fuel to the possibility that a more extensive post-halving rally may be on the horizon.
Brandt, who has made accurate predictions regarding Bitcoin’s price movements in the past, suggested in June that the cryptocurrency could eventually reach a new all-time high. While he did not specify an exact timeframe, Brandt anticipates Bitcoin’s value could potentially rise to $150,000, aligning with prior market cycles where the cryptocurrency experienced considerable surges after a halving event.
Speculative Position Gains Momentum
Brandt’s recent analysis aligns with growing speculation around Bitcoin, driven partly by a surge in interest in spot-based Bitcoin ETFs. These financial products have seen five consecutive days of strong inflows, according to market reports, suggesting that institutional investors are increasingly drawn to Bitcoin’s potential. Brandt has highlighted that “long Bitcoin” remains the “single largest” speculative position, underscoring the growing optimism within the trading community.
Despite his optimistic outlook, Brandt was clear in advising caution, noting that his projections, like any other technical analysis, are not foolproof. While he sees substantial potential in Bitcoin’s rally, Brandt emphasized the importance of maintaining a balanced approach with strong risk management. This perspective serves as a reminder to traders to proceed with calculated risk as Bitcoin’s post-halving phase unfolds.
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