Bitcoin (BTC) has been going through a volatile period recently. While it even briefly dropped to a price below $57,000, the digital currency currently appears to be stabilizing again around a higher level of $63,500. Experienced trader Peter Brandt sees this as a positive sign and remains bullish.
Brandt expects BTC to regain its previous high of $73,700 soon as it becomes a classic bullish pattern continues. On the social media platform X, the trader showed a graph with various conditions for such an increase.
The graph that Brandt shows is a so-called “bull market continuation chart construction“. This means that if Bitcoin can hold current price levels and continue to rise, it will exhibit a pattern that often occurs during bull markets. This ultimately suggests that the upward trend will continue.
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