Peter Brandt Forecasts Potential Bitcoin Surge to $150,000, Analyzing Current Technical Indicators in the Market.

Bitcoin’s value has surpassed $96,000 in the last day, reinforcing the potential for a sustained move into the six-figure range. This price movement is particularly notable, representing a clear break above a vital on-chain resistance area between $93,000 and $95,000, which analysts believe could play a crucial role in determining whether Bitcoin can maintain a trend into the six figures.

Contributing to this bullish trend is the long-term technical analysis from esteemed trader Peter Brandt, who forecasts that Bitcoin is poised to reach new all-time highs, with a potential peak price exceeding $150,000 within his predicted timeframe.

Peter Brandt Outlines Path Towards a $150,000 Bitcoin Peak with Parabolic Structure

Experienced trader Peter Brandt shared a weekly candlestick chart of Bitcoin’s price on social media, underscoring a trajectory leading to $150,000 by the end of summer 2025. According to Brandt’s analysis posted on the social platform X, Bitcoin currently trades below a parabolic trendline, which is pivotal for the concluding phase of the ongoing bull market. This parabolic trendline has historically functioned as a ceiling for Bitcoin’s price peaks and record highs since 2021.

Brandt’s chart illustrates various classical technical formations, highlighting multiple head and shoulders configurations, expanding triangles, and consolidation wedges. The breakthrough from the latest wedge formation serves as his justification for stating that the bull market remains structurally sound.

His forecast indicates that the parabolic resistance Bitcoin must overcome is currently around the $120,000 mark. A significant breakout past this level could set the stage for a rise to a peak for this cycle. Brandt noted that this cycle’s peak would range between $125,000 and $150,000, anticipated by August or September 2025.

On-Chain Metrics Indicate Pressure Points Around $93,000 To $95,000

On-chain metrics from an analytics firm show that Bitcoin is currently testing a convergence of two essential resistance points: the 111-day simple moving average, which sits at $91,300, and the cost basis for short-term holders, located at $93,200.

Importantly, Bitcoin’s price structure has established a higher high compared to a previous high of $94,000 in early May, effectively breaking the bearish trend from early April. This development suggests a potential shift in the market towards a more aggressive phase of accumulation. However, this area also indicates a considerable cluster of coins previously purchased, which means investors who faced losses during earlier declines may now be close to breaking even. This scenario could lead to heightened sell-side pressure if some traders decide to take profits or exit at breakeven.

Meanwhile, long-term holders are displaying strong retention trends, with realized profits exceeding 350% for many. Notably, over 254,000 BTC have crossed the 155-day mark since Bitcoin’s recent local low, indicating that a substantial portion of the supply is transitioning into long-term holdings. Many of these bitcoins were acquired at prices above $95,000.

While the current momentum clearly favors the bulls, the $93,000 to $95,000 range remains a critical battleground that could influence Bitcoin’s path leading towards Peter Brandt’s target of $150,000.

At the time of this writing, Bitcoin is valued at $96,635.

Featured image from Pexels, chart from Tradingview.com