Top trader Peter Brandt: ‘Bitcoin $ 150,000 comes faster than you think’

A month ago it still looked bleak for the cryptomarket. There was panic and Bitcoin (BTC) dropped below $ 75,000. But see where we are now, only a month and a half later Bitcoin is in a pricing phase.

At the time of writing, the digital currency is even on a brand new all-time High (ATH) of $ 111,500. And if it is up to investment veteran Peter Brandt, this is only the beginning. According to him, many more fireworks are coming: he focuses his visor on a Bitcoin course of $ 150,000, possibly faster than expected.

Bullish signals stack up

Peter Brandt shared his vision through an X post. In it he mentions the recent rise in Bitcoin impressive, but in itself it is not yet a decisive technical signal. According to him, what is really important are the underlying graph formations that indicate a structural continuation of the upward trend. Based on his technical analysis, the experienced trader has identified several classic bullish patterns that jointly send a strong signal.

One of the most important patterns that burns is the symmetrical triangle, a continuation formation that often leads to powerful price movements as soon as the price breaks out. And that is exactly what we have seen happening at the digital currency.

In addition, he points to a so-called ‘double top-retest’, in which a former resistance level has been successfully transformed into support, usually a strong positive signal. In addition, Brandt sees a reverse head and shoulder pattern on the weekly graph, a traditional formation that often precedes long-term upward movements.

Finally, he signals an outbreak from a Bull Flag: a typical pattern that occurs during short consolidation periods within a wider upward trend.

When is the peak?

Based on this combination of graph patterns and price movements, Brandt sees room for a considerable increase. In its scenario, the Bitcoin course can rise to between $ 125,000 and $ 150,000.

Compared to the current position, that would amount to an increase from around 8.7% to more than 30%. And according to Brandt, that peak could come faster than many expect: he takes into account a top towards the end of August, that is just a little more than two months from now on.