Trading Legends Peter Brandt and John Bollinger Teases Potential Bitcoin Rally

2y ago•

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With the third quarter coming to a close, a new trading pattern appears to be forming around Bitcoin (BTC), the industry’s premier digital currency, with a potential rally looming.

For a year characterized by a mix of positive and negative fundamentals, optimism from prominent market analysts, including Peter Brandt and John Bollinger, is lending a new interest to the much coveted positive close for the quarter.

At the time of writing, Bitcoin is changing hands for $27,074.75, up by 2.55% in the past 24 hours, per data from CoinMarketCap.

This growth might be the start of a unique resurgence as many observers are hailing the push to breach the $27,000 resistance level despite the bouts of ETF delays from the United States Securities and Exchange Commission (SEC).

The Brandt and Bollinger Optimism

In assessing the current status of the Bitcoin price trend, Peter Brandt shared a chart infused with both the Average Directional Index (ADX) and H&S indicators, respectively. He noted that there is a possibility the BTC bulls might be awoken, seeing the coin’s ADX reading is depicting its lowest since July 2020.