Brandt Sticks to Long Bitcoin Position Despite $82K Rejection

Veteran trader Peter Brandt is sticking to his long Bitcoin position despite another rejection from the $82,000 resistance zone. The asset briefly moved above $81,282 but gave back part of its advance, trading near $79,820 at press time.

Brandt entered his Bitcoin position after an inverse head-and-shoulders pattern changed his earlier bearish technical view. He remains long Bitcoin despite the latest pullback, which has seen Bitcoin gain roughly 28% in August.

Traders are watching the $80,000-$82,000 range closely, as another rejection could return pressure to nearby support levels. A sustained move above $82,000 would place Bitcoin beyond the resistance zone that has limited recent gains.