Peter Brandt noted that Bitcoin has broken through strong resistance at $19,000 and is now preparing for continued growth.. The analyst emphasized that a double bottom was found and this is an extremely rare pattern for technical analysis. After breaking through the resistance level, the rate of the first cryptocurrency should reach at least $25,000.
A colleague was supported by a blogger-analyst under the pseudonym Sheds. In his opinion, the nearest target for BTC was the level of $25,000.. However, while the trend remains bearish, Bitcoin needs to rise to $25,500 to break this movement.
“It is clear to the bulls that the bearish trend is being broken.. The bulls returned to the 150-day range, they were able to gain a foothold above the 200-day moving average. But we are still below the 200-week moving average and below the critical $25,500 level.. Bitcoin is still in a bearish trend. However, if we overcome this level, the situation will change,” says the analyst.
Last October, Peter Brandt wrote that investors who bought bitcoin in 2021 were at a loss.