Trader Peter Brandt Says Bitcoin and Two Altcoins Flashing Interesting Price Developments – Here’s His Outlook

Seasoned dealer Peter Brandt believes that Bitcoin (BTC) and two extra crypto belongings, together with Ethereum (ETH), are displaying indicators of power.

Brandt tells his 744,000 followers on social media platform X that Bitcoin continues to commerce inside a consolidation sample.

Though the dealer shares a chart indicating that BTC has breached the sample’s resistance, he notes that Bitcoin will not formally be in bull territory till it passes its all-time excessive of practically $74,000.

“[The] A seven-month inverted increasing triangle continues to kind. The March 2024 sequence of decrease highs and decrease lows has NOT been damaged but.

Lengthy Bitcoin is my largest speculative place.”

On the time of writing, Bitcoin is buying and selling at $67,363.

Additional down Ethereum, the dealer says ETH has damaged the bullish reversal sample on the each day chart.

“ETH closing value chart inverted H&S sample (head and shoulders). I’m flat in ETH.”

Merchants sometimes view an inverse head-and-shoulders sample as bullish, indicating that patrons are not ready for the worth to backside once more earlier than getting into the market.

On the time of writing, Ethereum is price $2,622.

The most recent crypto asset on the dealer’s radar is Ethereum challenger Solana (SOL). In line with Brandt, SOL exhibits a cup-and-handle sample, a construction that means an asset is taking a breather earlier than heading greater.

“SOL exhibits doable cup and deal with with rectangle as deal with.

I’m flat on this crypto.”

On the time of writing, SOL is price $166.40.

Brandt notes that Bitcoin, Ethereum and Solana are among the many “most fascinating chart developments” he sees in the meanwhile. Different charts on his record embody silver and Bitcoin versus gold.

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