Bitcoin (BTC) is closing in on its all-time high (ATH), bringing excitement among bulls. However, seasoned analyst Peter Brandt advises caution, urging bulls to stay excited yet avoid becoming dogmatic. Bitcoin Breakout Yet To Be Confirmed After a lackluster start to October – a historically bullish month for Bitcoin – the digital asset is exchanging hands at $71,789, just about 3% shy of its March 2024 ATH of $73,737. Related Reading: Bitcoin To $100,000 By February 2025? Analyst Explains Why While the prospect of a new ATH has the crypto market on its feet, veteran analyst and trader Brandt thinks multiple conditions must be fulfilled to determine a confirmed breakout. In a post published on X on October 29, Brandt cautioned BTC bulls against over-enthusiasm without technical confirmation of a breakout. Specifically, the analyst warned the bulls about the limitations of diagonal patterns – particularly those with slanted boundary lines – on trading charts. Brandt explained that although “nicking” of a boundary line might excite the bulls, it does not represent a confirmed breakout. For a breakout to be genuine, Brandt has set the target price at $76,000, st ..
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