Peter Brandt Holds Bitcoin Price Bet Despite $82K Rejection

TLDR

• Bitcoin failed to break above the $82,000 resistance zone and traded near $79,820 after reaching $81,282.
• Veteran trader Peter Brandt confirmed that he remains long Bitcoin despite the latest rejection from resistance.
• Bitcoin has gained roughly 28% in August, supported by renewed buying interest and concerns around fiscal policy.
• Brandt entered his Bitcoin position after an inverse head-and-shoulders pattern changed his earlier bearish technical view.
• Traders are watching the $80,000-$82,000 range closely, as another rejection could return pressure to nearby support levels.

Bitcoin faced another rejection near the $82,000 resistance area as traders watched whether the latest recovery could extend. The asset briefly moved above $81,000 before giving back part of the advance. Veteran trader Peter Brandt said he remains long Bitcoin price despite the pullback.

At press time, Bitcoin traded near $79,820, up about 1.3% over 24 hours. The cryptocurrency reached an intraday high near $81,282 before moving lower as sellers returned around the resistance range.

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