Veteran trader Peter Brandt has drawn attention to a potential bullish setup in the gold market, noting that its current chart structure resembles Bitcoin’s price action ahead of its major breakout last year.
In a post published on June 3, 2025, Brandt highlighted an expanding inverted triangle formation on gold’s daily chart, similar to the technical structure BTC formed in 2024 before rallying.
Gold’s Expanding Triangle: A Familiar Setup
According to Brandt’s analysis, the GCQ25 August 2025 Comex Gold contract is showing signs of breaking out from a descending wedge within an expanding triangle, a pattern often considered a bullish reversal structure. The chart suggests that gold may be on the verge of a significant move higher—if the breakout confirms.
“I certainly could be wrong,” Brandt admitted in the post, “but I don’t take the market personally, and it doesn’t take me the same.” He emphasized that he’s not predicting outcomes but interpreting chart behavior as he sees it.
Similarities With Bitcoin’s 2024 Chart
Side-by-side with gold, Brandt shared a comparative view of Bitcoin’s CME futures chart from 2024, which showed a nearly identical pattern before launching into a multi-month rally.
In both cases, a descending wedge converges with an inverted triangle—followed by a breakout and subsequent strong trend.
The implication: if gold follows the same structure, it could soon see upward momentum similar to what propelled Bitcoin from consolidation to new highs last year.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/peter-brandt-spots-gold-pattern-resembling-bitcoins-2024-breakout-structure/