Seasoned dealer Peter Brandt is leaning bullish on Bitcoin (BTC) after the flagship crypto asset just lately broke into a brand new all-time excessive.
Brandt tells his 746,100 followers on the social media platform X that Bitcoin is “now within the candy spot of the bull market halving cycle.”
In keeping with Brandt, Bitcoin might recognize by between 73% to 100% from the present stage to succeed in the cycle high in August or September of 2025.
Based mostly on the veteran dealer’s chart, it seems he’s suggesting that the time it’s going to take for Bitcoin to succeed in the cycle high after the halving might be much like the time taken from the beginning of the bull market cycle to the halving, if historical past repeats itself.
In keeping with Brandt, a 518-day interval separates Bitcoin’s begin of the bull market cycle in November of 2022 to the halving in April of this 12 months. The veteran dealer says it might doubtlessly take one other 518 days for Bitcoin to succeed in the cycle high of the present bull market from the April halving.
Bitcoin is buying and selling at $75,004 at time of writing.
The extensively adopted dealer additionally presents his perception on Ethereum (ETH) and Solana (SOL).
“Each are poised for upside breakouts to affix Bitcoin. However discover, SOL breaking out into new highs. ETH chewing into overhead resistance (provide). I all the time favor new highs and like SOL.”
Based mostly on Brandt’s Ethereum and Solana charts on the weekly timeframe, it seems that Solana is round 10% under the 28-month excessive reached in March whereas Ethereum is 45% under its 28-month excessive reached throughout the identical interval.
Ethereum is buying and selling at $2,805 at time of writing whereas Solana is altering fingers at $187.
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