{"id":79660,"date":"2025-07-10T10:15:07","date_gmt":"2025-07-10T10:15:07","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=79660"},"modified":"2025-07-10T10:15:07","modified_gmt":"2025-07-10T10:15:07","slug":"veteran-trader-peter-brandt-is-long-on-bitcoin-btc-but-theres-a-catch","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=79660","title":{"rendered":"Veteran Trader Peter Brandt Is Long on Bitcoin (BTC), But There\u2019s a Catch"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Peter Brandt remains bullish on bitcoin with ambitious targets, but alerted about the appearance of a bearish pattern.<\/p>\n

Despite optimistic predictions from multiple analysts, technical indicators such as a near-overbought RSI suggest that the asset\u2019s rally might face short-term resistance.<\/p>\n

<\/a><\/span><\/h2>\n

Watch Out for This Level<\/h2>\n

Several hours ago, bitcoin (BTC) <\/span>made<\/span><\/a> history by tapping a new all-time high price of over $112,000. One prominent figure in the crypto industry who has commented on the asset\u2019s recent performance is Peter Brandt.<\/span><\/p>\n

The veteran trader <\/span>spotted<\/span><\/a> the formation of an expanding inverted triangle on BTC\u2019s price chart, arguing that it has \u201ca higher rate of morphing or mortality\u201d than a pattern like the horizontal pennant. <\/span><\/p>\n

Nonetheless, Brandt remains long on the asset, setting short-term targets of $120,958 and $134,886. Investors, though, should be cautious because, according to the trader, a decline under $107,000 \u201cwould suggest morphology.\u201d<\/span><\/p>\n

An expanding inverted triangle is a pattern where price fluctuations become wider over time, forming higher highs and lower lows in a megaphone shape. <\/span>It\u2019s generally considered<\/span> bearish, as it signals market instability and could result in a breakdown. <\/span><\/p>\n

On the contrary, a horizontal pennant is a consolidation pattern where the asset\u2019s valuation drifts sideways after a significant move. It\u2019s usually viewed as a bullish signal, assuming it follows an upward trend.<\/span><\/p>\n

Brandt is known as a proponent of the primary cryptocurrency. Just a few weeks ago, he <\/span>recommended<\/span><\/a> that people make monthly investments and allocate 80% of the capital to SPY (the ETF that tracks the S&P 500 Index) and the remaining 20% to BTC.<\/span><\/p>\n

Other Forecasts<\/span><\/h2>\n

The X user CRYPTOWZRD is also optimistic that BTC could post additional gains <\/span>in the near future<\/span>, <\/span>envisioning<\/span><\/a> a rally to $132,500 based on the potential formation of an inverse head-and-shoulders pattern. KALEO was even more optimistic, predicting a price explosion to $500,000.\u00a0<\/span><\/p>\n

#Bitcoin<\/a> \/ $BTC<\/a><\/p>\n

$500K IS A MAGNET pic.twitter.com\/ni2oFVs9hf<\/a><\/p>\n

\u2014 K A L E O (@CryptoKaleo) July 9, 2025<\/a><\/p>\n\n

Some indicators support the bullish theories. BTC\u2019s exchange <\/span>netflow<\/span> has been predominantly negative over the last month, signaling a shift from centralized exchanges to self-custody methods, which reduces the immediate selling pressure.<\/span><\/p>\n

<\/a>BTC Exchange Netflow, Source: CryptoQuant\u00a0<\/span><\/p>\n

On the other hand, the asset\u2019s Relative Strength Index (RSI) is quite close to the bearish zone of 70. <\/span>Such readings <\/span>show<\/span> that the price has increased too rapidly over a short period <\/span>of time<\/span> and <\/span>might<\/span> be due for a short-term pullback.<\/span>
\n<\/span><\/p>\n

<\/a>BTC RSI, Source: CryptoWaves<\/p>\n

The post Veteran Trader Peter Brandt Is Long on Bitcoin (BTC), But There\u2019s a Catch<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Peter Brandt remains bullish on bitcoin with ambitious targets, but alerted about the appearance of a bearish pattern. Despite optimistic predictions from multiple analysts, technical indicators such as a near-overbought RSI suggest that the asset\u2019s rally might face short-term resistance. Watch Out for This Level Several hours ago, bitcoin (BTC) made history by tapping […]<\/p>\n","protected":false},"author":0,"featured_media":79661,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-79660","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/79660"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=79660"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/79660\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/79661"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=79660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=79660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=79660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}