Legendary Trader Peter Brandt Says Bitcoin Is Flashing a Rare Bullish Signal Here’s His Target

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Veteran analyst Peter Brandt believes Bitcoin (BTC) has more upside potential after breaking out of an “extremely rare” technical pattern.

Brandt tells his 695,200 Twitter followers that Bitcoin is likely to see more rallies after BTC cleared resistance from a pivot pattern around $19,000.

“BTC’s bottom is a double-walled pivot model. Extremely rare. The 2X target is around $25,000.

Source: Peter Brandt/Twitter

Fellow crypto analyst Cheds is also keeping a close eye on the $25,000 price level for Bitcoin. The trader shares his bullish and bearish scenarios for Bitcoin, arguing that BTC remains in a macro bearish trend until it clears resistance at $25,500.

“Bull: Watched the big hit to sustain momentum with bulls moving back into the 150-day range, closing several days above the 200-day moving average for the first time since 12/21 and breaking the high structure lower daily.

Bearish: price still below the 200-week moving average and the trigger level of $25,500. Bearish re-test up.

He also shares a chart showing that $25,500 is the last line of defense for the bears.

“BTC weekly chart.

Keep the dead thesis if the price swings from $25,500.

Meanwhile, popular crypto analyst Kaleo believes that Bitcoin will easily break through the resistance at $25,500.

“Shipping full soon, please and thank you. Sometimes it’s that simple… Something like that makes sense.

Source: Peter Brandt/Twitter

At the time of writing, Bitcoin is trading at $22,818, down more than 4% on the day.

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