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Trader Peter Brandt Sees Potential for Bitcoin Gains Amid Expanding Triangle Breakout

2025-07-10 08:36:06

Trader Peter Brandt Sees Potential for Bitcoin Gains Amid Expanding Triangle Breakout

Main Idea

Bitcoin's breakout above an expanding triangle pattern signals bullish momentum, with key support at $107,000 and potential price targets of $120,958 and $134,886, according to trader Peter Brandt.

Key Points

1. Bitcoin broke out above an expanding triangle pattern, indicating renewed bullish momentum after surpassing the critical resistance level near $108,100.

2. Peter Brandt identifies $107,000 as a pivotal support level; a drop below this would invalidate the bullish pattern.

3. Price targets derived from the pattern are $120,958 and $134,886, representing potential upside if support holds.

4. Bitcoin recently reached a record high of $112,040 and is trading around $111,257, maintaining its position above the breakout level.

5. Traders should monitor the $107,000 support level for risk management, as the breakout suggests potential upward movement toward $121,000 and beyond.

Description

Bitcoin has surged to new heights, breaking out of a key technical pattern that signals potential further gains for the leading cryptocurrency. Prominent trader Peter Brandt highlights a breakout above

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