Summary
Bitcoin’s price surged past $55,000 on Monday, breaking out of a 15-month channel. According to Brandt, the bullish trend will continue as long as prices stay above $50,500.
Key Points
1. Bitcoin broke out of a 15-month channel and rose past $55,000 on Monday.
2. The bullish view will remain valid as long as prices exceed the past week’s low of around $50,500.
3. The trendlines connecting November 2022 and September lows, as well as April 2023 and January 2024 highs, were identified as key factors in the breakout.