Peter Brandt: "Bitcoin will continue to rise to at least $ 25,000"

A well-known cryptocurrency analyst announced that an “extremely rare technical pattern” has formed on the Bitcoin chart, and now the first cryptocurrency may well continue to grow.

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.