Bitcoin fell back again after approaching $82,000, and the market has still not shaken off the upward pressure. Senior trader Peter Brandt recently stated that he still holds long positions in Bitcoin, but also emphasized that he could close out those positions within a single day.

Resistance around $82,000 remains

As of press time, Bitcoin was trading at around $79,820, up 1.3% in 24 hours. It briefly reached $81,282 during the session, but then lost some of that gain.

Recently, the range of $80,000 to $82,000 has continuously acted as a significant resistance level. Bitcoin managed to return above $80,000 earlier this week for the first time since May. CoinGecko data shows that Bitcoin has seen a cumulative increase of about 28% in August.

Brandt Maintains a bullish outlook

Brandt stated on August 20th that he bought Bitcoin after a head and shoulders reversal pattern was completed. At that time, he mentioned that this pattern changed the previously weak technical analysis conclusions.

A day later, he mentioned again that prices had encountered what he referred to as a "price wall" multiple times, and said that the current trend reminded him of the bottoming out phase of Bitcoin in 2021. Nevertheless, he still chose to maintain his long positions.

Whether a breakthrough can be achieved remains the focus of short-term trading.

The current focus of the market remains on whether Bitcoin can effectively break through the resistance around $82,000. If the price can stabilize in this range, the upward momentum may further strengthen; however, if it encounters resistance again and falls back, the short-term volatility pressure could also increase once more.

The latest statements from Brandt indicate that some traders are still betting on a continuation of the Bitcoin rebound, but market sentiment remains cautious ahead of key resistance levels.