Veteran Trader Peter Brandt Says Bitcoin (BTC) Is Set to Vastly Outperform Gold After Printing a Bullish Pattern

Brandt shares a chart with his 745000 followers on the social media platform X showing Bitcoin in a clear uptrend when priced in gold (BTC/XAU).

Veteran trader Peter Brandt says that Bitcoin (BTC) is gearing up to significantly outperform gold, following a bullish chart pattern on the longer-term chart.

Brandt shared a chart with his 745,000 followers on the social media platform X, showing Bitcoin in a clear uptrend when priced in gold (BTC/XAU).

According to Brandt, BTC/XAU has formed a three-year inverse head and shoulders (H&S), with the final part of the pattern – the right shoulder – currently unfolding.

An inverse H&S indicates that demand for an asset is rising without the price having to revisit the lows.

“Bitcoin or Gold – which store of value is king

BTC/XAU chart has completed a channel serving as the right shoulder of a massive continuation inverted H&S

Bitcoin is going to rock Gold despite what [gold advocate and Bitcoin critic] Peter Schiff thinks or says.”

At the time of writing, Bitcoin is trading at $74,547, just shy of its most recent all-time high hit on November 5th.

Brandt is also keeping an eye on Dogecoin (DOGE), the largest memecoin by market capitalization and Elon Musk’s favorite cryptocurrency.

The veteran trader says that new all-time highs (ATHs) are on the horizon after forming an inverse H&S and breaking out of a channel.

“In Musk we Trust

DOGE confirms channel breakout with massive underlying price accumulation and new ATHs around the corner.”

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