- Veteran trader Peter Brandt has gone long on Bitcoin after a confirmed breakout above $91,000, citing a rare multi-year inverted head-and-shoulders pattern.
- He’s now managing the trade with tight risk controls, signaling strong confidence in further upside.
In a bold move that’s sending ripples through the crypto world, legendary trader Peter Brandt has publicly revealed he is long on Bitcoin (BTC), signaling renewed confidence in the flagship cryptocurrency. Known for his half-century career and masterful use of classical chart patterns, Brandt’s entry into a long position follows Bitcoin’s explosive breakout above the $91,000 mark.
After weeks of testing resistance, Bitcoin surged past $91,187 with force, reaching $93,730 by yesterday’s close. But what really caught Brandt’s eye wasn’t just the price action — it was the setup behind it.
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According to Brandt, this breakout wasn’t just another bullish blip. Instead, it completed a rare, multi-year inverted head-and-shoulders continuation pattern, a technical formation often associated with the resumption of a major trend. “Without that broader structure, this breakout wouldn’t have passed my filter,” Brandt noted on X (formerly Twitter), underscoring the importance of context in chart analysis.
As a self-described “risk-averse chart-based swing trader,” Brandt is now executing one of his hallmark strategies: quickly advancing stop-loss orders to breakeven. This move helps lock in protection against downside while staying open to further gains if the rally continues. “Wide-bodied green bars allow me to advance stops quickly,” he explained, pointing to the kind of price action that’s hard to ignore.
This isn’t a prediction, Brandt insists — it’s a trade, backed by data, structure, and experience. His long position doesn’t guarantee higher prices, but when a technician of Brandt’s caliber steps in, it adds serious weight to the bullish case.
For a market often driven by emotion and hype, Brandt’s measured, pattern-based approach offers a refreshing and credible perspective. As Bitcoin eyes new highs, the backing of a veteran like Brandt could be the vote of confidence bulls were waiting for.
