A tariff shock just erased October’s gains in crypto — yet a veteran market tactician insists the bull is still alive. After the U.S. announced 100% tariffs on Chinese imports effective November 1, risk assets sold off hard and Bitcoin slid from roughly $116K–$117K to about $104K. Still, renowned analyst Peter Brandt argues the dominant uptrend in Bitcoin remains intact, while Ethereum looks coiled for a breakout, XRP eyes a triangle resolution toward key levels, and XLM shows notable relative strength.

What Just Happened

Tariffs are a macro shock that push funds into defensive assets and drain liquidity from speculative markets. The announcement triggered swift de-risking, accelerating crypto’s intraday volatility and flushing leveraged longs. The key: the sell-off was news-driven, not necessarily a structural failure of the cycle.

Brandt’s Read on the Charts

Brandt’s takeaway: the broader uptrend remains unbroken despite the pullback.

• Bitcoin (BTC): Dip framed as a corrective move inside an ongoing primary uptrend.
• Ethereum (ETH): Range-bound consolidation that often precedes trend continuation higher.
• XRP: Watching a triangle structure; a clean breakout could unlock a fast move toward prior psychological levels.
• XLM: “Bull waking” dynamics with relative strength; momentum could carry toward the $0.60 area if buyers press.

Why This Matters to Traders

Macro headlines can temporarily overpower technicals, but trends usually reassert once the shock is priced in. For traders, the edge is recognizing whether a drawdown breaks market structure or merely resets it. Brandt’s view leans toward the latter: volatility as opportunity, not obituary.

Actionable Game Plan

Use level-by-level triggers and predefined risk to let price confirm your bias.

• BTC: Track a higher low above ~$104K and a reclaim of the mid-range (e.g., low $110Ks). Acceptance back inside the $116K–$117K supply suggests momentum is rebuilding. Lose and close below the recent low? Step back and wait for fresh structure.
• ETH: Range break logic: prefer a daily close through range highs on rising volume; invalidation is a quick return into the range. Until then, fade extremes with tight stops.
• XRP: Triangle rules: trade the break + retest with stops inside the pattern. No retest or low volume? Avoid chasing.
• XLM: Monitor relative strength vs. majors and the XLM/BTC pair. Higher lows + expanding volume support continuation; weakness vs. BTC is a caution flag.

Risk Management You Can Use Today

• Position small into event risk (tariff start on Nov 1); scale only after confirmation.
• Prefer limit orders around levels; avoid forcing entries during illiquid wicks.
• Watch funding and open interest: crowded leverage into resistance often precedes squeezes.
• Keep a clear invalidation on every idea; if hit, exit without debate.

The Bottom Line

Policy shocks create chaos, but they also reset positioning. If Brandt’s read holds, this pullback is a pause in an uptrend, not the end of it. Trade the structure in front of you, respect volatility, and let confirmation—not headlines—drive your next move.

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