Legendary Trader Peter Brandt Says Bitcoin Bull Market Is Coming, But There’s “No Rush”
TL;DR:
- Analyst Peter Brandt rules out the presence of technical signals for an imminent trend change on the weekly chart.
- Firm CryptoQuant registered the reactivation of 1,246 BTC that were inactive for periods between three and ten years.
- The asset is trading below the 50-week moving average and the Ichimoku Cloud indicator.
Peter Brandt, a renowned trader, stated that the current price structure does not present elements to anticipate the imminent arrival of a Bitcoin bull market. The veteran analyst publicly backed the weekly projections released by the firm Northstar Charts.
As a classical chartist I see nothing right now to suggest a bull market is urgent https://t.co/ICgz4Uk9ZH
- The Factor Report (@PeterLBrandt) August 3, 2026
Technical Assessment of the Weekly Chart
According to Northstar Charts, the BTC/USD pair maintains a bearish trajectory after breaking the rising wedge formation near the highs of the current cycle.
The report indicates that the price lost the support of the 50-week simple moving average. Similarly, technical data confirms that during the first half of the year, the price fell below the Ichimoku Cloud.
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