Peter Brandt Maintains Long Bitcoin Position After Breakout, $107K Seen as Key Support Level

Key Points

1. Bitcoin broke out from an expanding triangle pattern, signaling bullish continuation after surpassing $112,000.

2. $107,000 is identified as a crucial support level; a drop below this could indicate a potential reversal.

3. Brandt's price targets post-breakout are $120,958 and $134,886, derived from the expanding triangle's trajectory.

4. Market sentiment favors bulls, but volatility remains a concern, requiring traders to stay vigilant.

5. The breakout provides a framework for setting entry points, stop-loss levels, and profit targets for investors.