Picture, if you will, the inimitable Peter Brandt, a chap not wholly unacquainted with the slings and arrows of financial fortune, announcing to the world that he is, as far as Bitcoin is concerned, long and strong. One imagines him brushing the confetti off his lapel after the cryptocurrency’s jolly jaunt to a spanking new high on Wednesday, eyebrows waggling in quiet anticipation—or perhaps dread.
Consulting his trusty chart (which, incidentally, is rather more exciting than the standard fare decorating an accountant’s office), Brandt observes a sudden breach above what the learned call an “expanding triangle”—or for those who prefer their patterns a bit more theatrical, “a broadening wedge.” The sort of thing, one suspects, that keeps technical analysts awake at night, clutching their pillows and murmuring about upper boundaries. 📈
The lower trendline, much like a valet chasing an escaping terrier, scampers upwards, while the upper trendline sits in a distinctly noncommittal slouch. Neither line appears interested in getting anywhere near the other, a state of affairs instantly relatable to anyone who has sat through a particularly awkward family dinner. Meanwhile, the gap between highs and lows grows ever wider, no doubt to the delight of those who thrive on volatility.
There is nothing special about this chart. An expanding inverted triangle has a higher rate of morphing or mortality than a pattern such a horizontal pennant. Nevertheless I am long BTC. A decline below 107000 would suggest morphology $BTC
— Peter Brandt (@PeterLBrandt) July 9, 2025
A horizontal line at $108,100 looms large—the erstwhile line in the sand that, after behaving like a stubborn butler through months of consolidation, has apparently rolled over and joined team Bulls. 🐂 Champagne corks, one imagines, are flying.
Brandt, living dangerously as ever, now eyes $107,000 as the redoubt. A drop below this number, and we’re looking at a chart pattern with all the stability of a soufflé in a marching band.
If Bitcoin does happen to tumble beneath $107,000, Brandt asserts with the confidence of a man whose monocle has never once fallen into a teacup, the pattern itself will have “morphed.” Or, if you prefer, “packed it in and gone to spend more time with its family.” In that event, the grand expanding triangle would be invalid—hard cheese for chart spotters.
The thing with expanding triangles is they’re a little easy on the promises and rather tricky on the delivery—tending to fail more often than the average soufflé at Downton Abbey. A false breakout isn’t just a possibility; it’s practically a tradition. No pressure, chaps.
Should optimism triumph, Brandt has two price targets already penciled in with the flourish of an old Etonian: $120,958 and $134,886, achieved by liberally stretching the pattern’s range.
For now, it seems the breakout’s a done deal; Bitcoin is presently strutting about at a rather dapper $111,257—at least per the good folk over at CoinGecko. U.Today reports a record high of $112,040 on Bitstamp this past Wednesday, after a month that could only be described as “unremarkable but agonizing.”
Brandt, ever the optimist—or madman—signals that BTC could gallop all the way to $118,000 in the not-too-distant future, technical analysis in one hand, champagne in the other. 🥂 Whether this brave new world materializes, or whether the triangle throws another wobbly, only time—and the gods of crypto—can tell.
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2025-07-10 11:32