Legendary futures trader Peter Brandt has made a major Bitcoin U-turn, abandoning his bearish outlook and opening a long position. The Factor LLC chief changed direction when Bitcoin completed a rare technical pattern that strengthened the case for higher prices. According to Brandt, completion of the inverted head-and-shoulders bottom changed his earlier view and prompted him to buy the breakout. His move carries added significance because he previously assigned Bitcoin a greater probability of extending its broader downward trend. However, Bitcoin’s breakout overturned that scenario and pushed Brandt toward a bullish position rather than defending his previous market expectations.