Bitcoin’s decisive breakout above resistance near $64,000 ended a multiweek consolidation and prompted Peter Brandt, head of Factor LLC, to open a long position after an inverse head-and-shoulders bottom completed on the daily chart. Brandt, who correctly forecast Bitcoin’s 2018 plunge, had previously assigned the setup roughly a 60% chance of resolving lower because of its prolonged right shoulder and the broader downtrend, but said the breakout changed the picture and that he bought at the move. The CME Bitcoin futures BTC-056 contract reached approximately $72,335 during the session, gaining $2,585. Brandt also forecast on July 20 that the current Bitcoin market cycle would bottom on Oct. 4, 2026, and said Bitcoin could outperform AI stocks over the next two to three years. Separately, trader Doctor Profit said Bitcoin had broken four to five bear-market resistance zones in one day and that the bear market had ended, identifying $71,500, $78,000 and $82,000 as levels whose clearance could further confirm an early bull-market transition. Market participants are watching whether the advance marks a short-term bounce or the start of a new bullish cycle.