Veteran trader Peter Brandt has reaffirmed his bullish outlook on major cryptocurrencies despite last week’s $20 billion market meltdown. In a new post on X, the renowned chartist said the recent volatility is only a “minor reaction in the bigger theme of things,” suggesting the broader uptrend remains intact. His analysis covered Bitcoin (BTC), Ethereum (ETH), XRP, and Stellar (XLM) – each showing signs of recovery in Brandt’s technical charts.
XRP: Minor Setback Within a Larger Breakout
Brandt’s chart of XRP shows the token breaking out from a long-term symmetrical triangle, a formation that typically precedes large directional moves. He described the recent price dip as “just a minor reaction,” indicating that XRP remains within its broader bullish trajectory. The consolidation phase, he suggested, is part of a larger structure that could resume upward momentum if the breakout holds above key support.
Bitcoin: The Macro Bull Still Alive
For Bitcoin, Brandt’s multi-year chart highlights a clear ascending trendline, showing that BTC continues to respect its long-term support structure. Despite last week’s liquidation-driven drop, he emphasized that Bitcoin’s “bull is still alive and well.” His chart illustrates consistent higher lows and volume stability, a hallmark of healthy accumulation within an extended bull phase.
Stellar (XLM): A Bull Waking Up
Brandt referred to Stellar (XLM) as “a bull waking from a nap,” referencing what appears to be an inverse head-and-shoulders pattern on his chart. The formation suggests a potential shift from accumulation to breakout territory, with momentum gradually returning after months of sideways movement.
Ethereum: “Ready to Rock and Roll”
Among Brandt’s most confident takes was Ethereum (ETH), which he described as “ready to rock and roll.” His ETH chart shows a tightening ascending wedge, where repeated resistance tests hint at an impending breakout. The setup implies that Ethereum may soon lead the next leg higher if broader market sentiment steadies.
A Veteran’s Perspective
Brandt’s analysis contrasts with widespread caution following the recent liquidation event. Known for his classical approach to technical analysis, he reminded traders that short-term turbulence rarely invalidates long-term trends. As he quipped in closing, “If I change my mind, I won’t let you know.”