Renowned trader Peter Brandt has validated Bitcoin’s bullish breakout from a technically significant expanding triangle pattern, following its surge above the $112,000 resistance level. This development signals strong upward momentum within the current market cycle.
The technical structure identifies $107,000 as a critical support floor. A sustained drop below this threshold would invalidate the breakout thesis and suggest a potential trend reversal, urging cautious monitoring among market participants.
Based on the expanding triangle’s measured trajectory, Brandt projects two precise price targets for Bitcoin: $120,958 as the initial objective, followed by $134,886. These targets reflect proportional extensions of the pattern’s historical volatility parameters.
While bullish sentiment dominates current trading activity, analysts emphasize persistent market volatility as a key risk factor. Traders are advised to maintain vigilance and implement disciplined risk management protocols amid rapid price movements.
The confirmed breakout equips investors with strategic reference points for positioning, including optimized entry levels, logical stop-loss placements near $107,000 support, and structured profit-taking approaches aligned with Brandt’s designated targets.