Bitcoin broke new records last night after a long period. While talk of a rally intensified with the new ATH, veteran analyst Peter Brandt issued a warning to investors.
50-year analyst Peter Brandt claimed that although he expects a long-term rise in Bitcoin, the rise is not yet guaranteed.
At this point, Brandt stated that $107,000 is very critical and warned that a drop below $107,000 could completely change the scenario for BTC.
The analyst warned that a collapse could occur if the $107,000 support fails.
While the recent rally in Bitcoin is encouraging, Brandt said there is an expanding inverted triangle on the BTC chart and $107,000 is critical.
“There’s nothing special about the Bitcoin chart. An expanding inverted triangle has a higher bearish rate compared to a formation like a horizontal pennant.
I’m still long Bitcoin. However, a drop below 107,000 could invalidate the uptrend.
An expanding inverted triangle is a pattern in which price fluctuations widen over time, creating a megaphone-shaped pattern of rising highs and falling lows. It is generally considered a bearish trend, signals market instability, and could lead to a crash.
There is nothing special about this chart. An expanding inverted triangle has a higher rate of morphing or mortality than a pattern such a horizontal pennant. Nevertheless I am long BTC. A decline below 107000 would suggest morphology $BTC pic.twitter.com/TsfmT4mQud
— Peter Brandt (@PeterLBrandt) July 9, 2025
*This is not investment advice.