Key Notes
- Brandt enters a long Bitcoin (BTC) position following a confirmed breakout.
- The breakout occurred after BTC surpassed a descending trendline active since January.
- Bitcoin futures liquidity surged by $5.34B, the largest increase in a year, as traders opened 57,000 BTC positions.
What Triggered Brandt’s Bullish Shift?
Brandt changed his stance after BTC broke above a descending resistance trendline that had limited price action since late January. This breakout came alongside a strong daily candle, with BTC gaining over 6.7%, its biggest single-day move since early March.
Initially cautious, Brandt had noted that trendline breakouts don’t always signal a true trend reversal. However, he referenced a “larger perspective” this time. He viewed the recent drop to around $74,500 as a retest of a multi-year inverse head-and-shoulders pattern. This technical setup, combined with the breakout, prompted his shift in outlook.
Brandt highlighted a key technical breakout above the $91,187 resistance level. The breakout was accompanied by a wide-bodied green candlestick, signaling strong buying momentum and confirming a shift in market structure.
Risk Management and Strategy
Despite turning bullish, Brandt remains cautious. He is using a trailing stop-loss strategy, allowing him to stay in the trade while protecting against sharp declines. As a risk-averse swing trader, this method aligns with his conservative trading style.
His analysis suggests the rally could continue if BTC holds key support levels. The structural breakout gives traders a reason to stay alert.
Surge in Futures Liquidity Adds Confirmation
BTC’s breakout was followed by a $5.34 billion jump in futures liquidity, the largest in over a year, according to Crypto Quant. Traders opened over 57,000 BTC positions in just three days, aligning with BTC’s surge past $93K.
Supporting this, CoinGlass reports a 41% jump in long positions (now $77.8B), while short positions fell 36% to $71.8B in 24 hours. Total futures open interest has hit record highs, led by CME and Binance.
These numbers reflect strong bullish conviction and growing leverage in the market. While it fuels upside momentum, it also raises short-term volatility risk. The data signals that traders are positioning for further gains, but sharp corrections could follow if sentiment shifts or key levels fail.
Conclusion
Peter Brandt’s bullish pivot is notable, considering his strong track record. His approach reflects growing confidence in BTC’s technical setup after the recent breakout and successful retest. Alongside rising futures liquidity, the market appears poised for strong follow-through if support levels hold.
