Bitcoin (BTC) has experienced a surge of momentum following Donald Trump’s recent election victory, catapulting the world’s top cryptocurrency to an all-time high (ATH) of $76,481. This rally is drawing significant attention from traders and analysts as BTC edges closer to breaking through a critical technical pattern highlighted by veteran trader Peter Brandt. Brandt’s analysis, focused on an “inverted broadening triangle,” suggests Bitcoin may be approaching a defining moment, with the potential for unprecedented gains.
After Trump’s win, Bitcoin quickly surpassed its previous ATH of $73,794, posting a 9% daily gain that brought it to a close of $75,637. This impressive jump marked BTC’s largest intraday gain since August and reinforced a strong wave of bullish sentiment. The surge has led investors and analysts to speculate on whether BTC’s recent gains could confirm a sustained upward trend, potentially leading to new heights.
Brandt’s analysis underscores the importance of BTC’s position within the inverted broadening triangle—a technical pattern known for its volatility and potential for large price swings. A sustained breakout above the $76,000 mark could be a pivotal move, signaling a potential rally. Presently, BTC is hovering around $74,844, less than a 1.5% gain away from Brandt’s target. Should Bitcoin cross this threshold, it could trigger a bull wave that sends prices soaring.
Adding further support to the current rally is BTC’s solid backing at a weekly moving average of $67,045, establishing a strong base for continued growth. This technical foundation provides reassurance to bulls that the rally has substantial momentum, especially as volume metrics reveal increasing investor interest.
Brandt’s forecast also incorporates a broader timeline tied to Bitcoin’s halving cycle, with the most recent halving event taking place in April 2024. Brandt identifies this period as the “sweet spot” in Bitcoin’s cycle, often associated with substantial price increases that reach their peaks about 1.5 years post-halving. Based on historical trends, he anticipates that Bitcoin could soar to a range of $130,000 to $150,000 by mid-2025, lending confidence to long-term holders and institutional investors.
Also Read: Bitcoin Hits New All-Time High Of $76.4K – Open Interest Soars To $45.8B As Bullish Sentiment Grows
The path toward this milestone follows a cycle-based timeline. Brandt notes that each halving tends to be followed by a significant rise approximately 518 days before and after the event. If BTC’s current trajectory follows historical patterns, a new ATH could emerge around August or September 2025. With a macro target of $135,000, Brandt’s projections are echoed by other market analysts, fueling further optimism in the market.
As BTC approaches Sunday’s $76,000 test, investors are closely watching for the next significant move. Breaking above this critical level could set Bitcoin on a path to fresh highs, affirming the optimism spurred by Trump’s win and potentially setting a new stage for Bitcoin’s growth in the coming years.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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