Crypto Veteran Peter Brandt Cautions: Bitcoin Rally at Risk Below $107,000
Main Idea
Crypto trading veteran Peter Brandt warns that Bitcoin's rally could be at risk if it falls below the $107,000 support level, with potential for either a continued bull market or a bearish reversal.
Key Points
1. Peter Brandt highlights the $107,000 mark as a critical psychological and technical support level for Bitcoin's current rally.
2. A successful defense of the $107,000 support could lead Bitcoin to advance towards $120,958 and $134,886, signaling a continuation of the bull market.
3. If Bitcoin fails to hold the $107,000 level, it may trigger a bearish reversal, altering the market's trajectory.
4. Brandt's analysis is based on an 'expanding triangle' pattern, suggesting the current breakout could potentially be false.
5. Bitcoin recently flipped the $108,100 level into support, but $107,000 remains the key threshold to watch.
Description
Renowned crypto trading veteran Peter Brandt has issued a fresh warning regarding the current Bitcoin (BTC) rally. While maintaining his long position on the cryptocurrency, Brandt indicates that the upward momentum could be in jeopardy if Bitcoin fails to hold a critical support level. His analysis points to a technical pattern that, despite an apparent … Continue reading "Crypto Veteran Peter Brandt Cautions: Bitcoin Rally at Risk Below $107,000" The post Crypto Veteran Peter Brandt Cautions: ...
Latest News
- Ethereum Reserves Surge to $6 Billion as Institutions Pivot from Bitcoin to ETH2025-07-18 11:05:34
- Crypto Market Edges Closer to $4 Trillion Valuation Amidst Bullish Momentum2025-07-18 10:15:21
- SEC Considers “Innovation Exception” to Foster Crypto Tokenization2025-07-18 07:10:43
- Stellar (XLM) Leaves XRP Behind with Stunning 63% Weekly Surge2025-07-18 06:13:27
- BNB Breaches $700, Yet Market Bulls Remain Cautious2025-07-18 05:42:30