Veteran trader Peter Brandt said he remained long Bitcoin on Aug. 28 as the cryptocurrency traded near $79,904, up 1.43% over 24 hours, after another failure to hold a decisive break above the low-$80,000s. Brandt bought after an inverse head-and-shoulders breakout on Aug. 20 and listed the BTC long alongside grain, sugar and Mexican peso longs and a lean-hogs short, without disclosing entry, size or stops. Price was boxed roughly between $78,754 and $81,478, about $9,400 above its 20-day average, with immediate resistance near $81,337 and support near $80,045, $78,612 and $77,320. Momentum looked stretched: RSI sat at 80.21 and the MACD had flattened near zero, while Bitcoin futures open interest fell 4.39% in a day as traders reduced exposure. Glassnode data show 1.05 million BTC held by long-term holders between $83,000 and $86,000, the first major supply cluster above spot, and U.S. spot Bitcoin ETFs still drew $2.23 billion over seven days with no outflow sessions, though daily turnover averaged only about $2.4 billion. Bitcoin’s next move hinges on whether positive ETF demand can absorb that overhead supply while price remains near its recent pivot just under $80,000.