Brandt Sees No Urgency for Bitcoin Bull Market Amid Technical Resistance

Veteran trader Peter Brandt recently expressed his doubts about Bitcoin's readiness for a new bull market, stating that as a classical chartist he sees no compelling evidence to suggest one is urgent.

This view aligns with Northstar Charts' analysis, which suggests that Bitcoin remains below key technical resistance after breaking beneath the 50-week moving average and the Ichimoku Cloud earlier this year.

The chart from Northstar indicates that the weekly trend for Bitcoin remains bearish, pointing to a breakdown from a rising wedge near the cycle highs. According to the analysis, Bitcoin has repeatedly failed to reclaim the 50-week moving average and remains under the Ichimoku Cloud, which is highlighted as a major resistance zone.

While Brandt stopped short of predicting further losses, he is confident that current price action does not yet justify expectations of an imminent bullish reversal. He also noted that the market had not yet bottomed, warning that a durable low was unlikely before October 2026.