Veteran trader Peter Brandt believes that the recent rally of Bitcoin still isn’t enough to flip the long-term bearish trend. While BTC did have a brief surge, he insists it hasn’t reached the levels needed to confirm a bullish reversal. Bitcoin needs to break $71,000 first and then confirm that, says Brandt. And while he claims this, other market analysts such as Jesse Colombo and Roman warn that geopolitical tensions and market patterns might bring BTC down even further. Related Reading: Breakout Looms: XRP To Hit $7.5 After ‘Wake-Up Line,’ According To Analyst QCP Capital highlights cautious optimism, noting that the recent sell-off appears shallow, suggesting potential for recovery. As more major traders take time to think about it, Michal van de Poppe thinks this pullback is short-term and would look forward to a retest of $60,000 support before Bitcoin makes a strong rebound. For more than seven months now, Bitcoin has traded in a downtrend with consecutive lower highs and lower lows reinforcing bearish sentiment. Even though the short-lived optimism had some toe-hold moments, according to Brand ..
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