David Edwards
Bitcoin (BTC) has decisively cleared the $90,000 resistance mark, prompting renowned trading veteran Peter Brandt to announce a long position in the leading cryptocurrency. Brandt, who boasts more than 50 years of trading experience and is celebrated for his mastery of classical chart patterns, confirmed his bullish stance via a public statement on April 22, 2025.
After several weeks of consolidation below key resistance levels, Bitcoin surged past $91,187 and reached $93,730, signaling a robust breakout. The rally was characterized by strong, wide-bodied green candles that captured significant market attention, even in an environment accustomed to high volatility. According to Brandt, such decisive moves are rare and typically leave a lasting impact on market sentiment.
In his commentary, Brandt emphasized that while every chartist brings a unique style to the market, his approach remains rooted in a risk-averse, chart-based swing trading methodology. His primary objective is to advance stop-loss orders quickly to breakeven, thereby minimizing downside risk while allowing for continued upside participation.
However, Brandt’s endorsement of the recent breakout extends beyond short-term technical signals. He pointed to a broader, multi-year setup—a complex inverted continuation head-and-shoulders pattern—as the critical structural backdrop validating the move. Without this comprehensive technical context, the veteran trader noted, the breakout would not have met his stringent trading criteria.
Now engaged in the position, Brandt is meticulously managing his trade by rapidly adjusting his stops, a hallmark of his disciplined strategy. This technique is designed to maximize returns from strong setups while cutting losses swiftly when conditions turn unfavorable.
While Brandt’s participation should not be misconstrued as a direct market forecast, his decision to allocate capital to Bitcoin at this juncture suggests that the cryptocurrency’s latest rally may carry more substantial implications than mere short-term market exuberance.
Disclaimer: This article is for entertainment and informational purposes only and does not constitute financial advice. Always do your own research
