Legendary Trader Brandt Is Long BTC, But Warns of Breakdown
2025-07-10 08:24:00
Main Idea
Legendary trader Peter Brandt is bullish on Bitcoin (BTC) but warns of a potential breakdown if the $107,000 support level is not held, which could invalidate the current expanding triangle pattern.
Key Points
1. Peter Brandt identifies $107,000 as a critical support level for BTC; a breakdown below this level would invalidate the expanding inverted triangle pattern.
2. Brandt has set two price targets for BTC following a breakout: $120,958 and $134,886.
3. Bitcoin recently reached a record high of $112,040 on Bitstamp after over a month of consolidation.
4. Brandt previously predicted BTC could rise to $118,000 based on technical analysis.
5. The $108,100 level, which previously acted as resistance, has now turned into support.
Description
The $107,000 level is crucial for the bulls to hold, according to trading legend Peter Brandt
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