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Bitcoin (BTC) just cleared a major obstacle at $90,000, and one of the market's top chartists is officially on board. Peter Brandt, known for his over 50 years of experience in trading and expertise for classical chart patterns, has publicly taken a long position in BTC.

After weeks of dropping below resistance, Bitcoin surged past $91,187 with conviction, hitting $93,730 as of yesterday.

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The price did not just go up a bit — it surged past a clear downtrend line, with big green candles that caught everyone's attention, even in a market that is used to theatrics. That kind of spike does not come around often without leaving a mark, convinced Brandt.

All chartists have their own style, their own perspective
I have mine as a risk adverse chart-based swing trader
My goal is to advance stops ASAP toward a breakeven trade
I'm long $BTC
Wide bodied green bars allow me to advance stops quickly pic.twitter.com/xe1YXPhd86

— Peter Brandt (@PeterLBrandt) April 22, 2025

But for the veteran trader, this was not just about the trendline. It's a much deeper, multi-year setup — a complex inverted continuation head-and-shoulders pattern. Without that broader structure in place, the breakout would not have made it past his filter. That is the difference between seeing a pattern and seeing the context.

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Now that he is in the trade, Brandt is playing it by the book, but his own one. He has been moving up on stops aggressively toward breakeven, which is a classic move in his playbook. It reduces risk while keeping the potential for more upside.

It's a strategy that is all about sticking with the good trades and bailing on the bad ones.

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What does it mean when a veteran like Brandt puts his money behind a move like this? It's not a prediction, but it's a sign that Bitcoin's latest surge might have more to it than just some short-term buzz.