Bitcoin has surged above an expanding triangle pattern, signaling renewed bullish momentum after decisively breaking through the critical $108,100 resistance level. Veteran trader Peter Brandt highlights this technical development as a key indicator of upward potential.
According to Brandt, $107,000 now serves as decisive support. Sustained trading below this threshold would invalidate the pattern. Should support hold, the breakout projects price targets at $120,958 and $134,886, representing significant upside from current levels.
Bitcoin recently achieved an all-time high of $112,040 and maintains strength near $111,257, holding above the breakout zone. Traders are advised to closely monitor the $107,000 support for risk management, with the breakout potentially propelling prices toward $121,000 and beyond.