Peter Brandt says he bought BTC on breakout after reversing bearish view

Veteran trader Peter Brandt said he had revised his earlier bearish view on Bitcoin as an inverse head-and-shoulders pattern was completed and bought BTC in the breakout zone. In a post on X, Brandt explained that an inverse head-and-shoulders pattern with an extended right shoulder had a 60% chance of breaking lower and that the trend at the time was also downward, but the situation changed once the pattern was completed. Brandt added that regardless of how it develops from here, he bought in the breakout zone.