Peter Brandt argues that Bitcoin’s price reversal is not confirmed until it consistently closes above $88k. Recent movements, including a high near $86k and increased whale activity, indicate potential bullish sentiment amid geopolitical developments. Brandt remains cautious despite these factors, emphasising the need for a sustained breach of $88k and endorsing the use of reversal patterns alongside trend analysis for market predictions.
Peter Brandt has stated that Bitcoin will not be considered to have reversed its price trend until it consistently closes above $88,000. He emphasizes that, despite recent bullish indicators, such as increased whale accumulation prompted by potential diplomatic resolutions of trade conflicts, the market still has hurdles to overcome.
Bitcoin (BTC) recently hit a high of approximately $86,429, first surpassing $86,000 since tariffs were announced by U.S. President Donald Trump. However, as of the current writing, it has retraced slightly to around $85,600. This price movement aligns with positive sentiment following meetings between Trump and El Salvador’s President Nayib Bukele, alongside speculations on funding Bitcoin reserves through tariff revenues.
Notably, whale investor confidence in Bitcoin appears to be returning as gold prices indicate market strength amid declining volatility (as reflected in the S&P 500 Index VIX). Market data illustrates a rise in the number of Bitcoin addresses holding between 1,000 and 10,000 coins, from 1,944 in early March to 2,014 now, a level not seen since April 2024, which preceded significant bullish activity.
Bitcoin achieved a significant milestone recently by breaking above its daily logarithmic falling trend for the first time since January 2025 against the U.S. dollar. This has fostered a bullish sentiment in the cryptocurrency market, particularly benefiting assets like Solana (SOL) and Ripple (XRP). Despite these positive developments, Brandt warns that the immediate price reversal is not confirmed.
Brandt asserts that merely violating a trendline does not indicate a definitive change in trend for Bitcoin. He insists on the necessity for prices to regularly close above $88,000 as a precursor to a validated trend reversal. Moreover, he advocates for integrating bullish reversal patterns such as double bottoms and inverse head and shoulders with trendlines for more accurate market predictions.
