Bitcoin's rise and the role of the inverted triangle
According to Brandt, Bitcoin's movement suggests the formation of an inverted triangle, a graphical configuration that may point to an increase in prices.
This technical pattern was completed after five months of expansion and now requires careful monitoring, according to the trader. Brandt's analysis indicates that the cycle of declines, which began in March, may have ended.
“The post-halving advance may have begun. The series of lower highs and lower lows since March has come to an end,” he highlighted.
Prospect of appreciation until 2025 and possibility of a new record
For Brandt, in addition to the breakout of the inverted triangle, Bitcoin may benefit from a projection based on a semi-logarithmic support line.
If this pattern continues, BTC could reach US$$ 94 thousand, although the trader considers the target of US$$ 105 thousand — also estimated for 2025 — as a more extreme scenario.
Another relevant factor for the long-term appreciation of Bitcoin is the halving, a process that reduces the rewards for mined blocks by half and historically drives the price of the asset
