๐ Bitcoin Breaks $86K... But Not Everyoneโs Convinced! ๐ฌ
Bitcoin (BTC) recently surged past $86,000 for the first time since U.S. President Donald Trump announced new bilateral tariffs earlier this month. ๐บ๐ธ๐ฐ
However, the rally didnโt last long โ BTC slipped back down to around $83,800. ๐
While this move gave many investors a spark of hope ๐, legendary trader Peter Brandt, with over 50 years of market experience ๐, isnโt buying the hype.
โIโm Not Convinced,โ says Brandt
In a fresh update, Brandt commented on BTC's recent jump. He acknowledged that Bitcoin had finally broken through a downtrend line that had capped its growth throughout January, February, and March. ๐ ๐
Yet, despite the bullish buzz in the market ๐, Brandt urged caution โ ๏ธ. He believes this breakout doesnโt necessarily mean a true trend reversal.
๐ฏ Speaking directly to โamateur chartists,โ Brandt said:
โMany amateur chartists are focused on this trend line.
Of all chart patterns, trend lines are the LEAST significant.
This latest breakout doesnโt confirm a reversal. Sorry!โ ๐
According to Brandt, for Bitcoin to truly reverse its correction that started earlier this year, it must break โ and consistently close โ above $88,000. Until then, heโs staying skeptical. #BTC #bitcoin #Binance #cryptocurrencies #BinanceSquareFamily
