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Bitcoin hits Brandt target before breakout
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Bitcoin hits Brandt target before breakout

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  • Bitcoin (CRYPTO:BTC) fell into Peter Brandt’s $58,000–$62,000 target range months after his January forecast.
  • Bitcoin later recovered to $79,500 before trading near $76,600 on 23 August.
  • Brandt changed his view after an inverse head-and-shoulders pattern broke higher.

Bitcoin (CRYPTO:BTC) reached Peter Brandt’s $58,000–$62,000 target before recovering above $79,000 in August.

Brandt made the call on 19 January when Bitcoin traded near $92,400, but his expected two-week timeline did not hold.

Brandt wrote on X that “58k to $62k is where I think it is going” for Bitcoin.

Bitcoin fell to about $57,717 on 1 July before recovering towards $79,500 by 21 August.

Brandt later changed his view after Bitcoin completed an inverse head-and-shoulders pattern and moved above its neckline.

He said he “bought the breakout for better or worse” after the pattern completed, while Bitcoin also gained from ETF inflows and short liquidations.

US spot Bitcoin ETFs recorded about $1.92 billion in net inflows across five sessions, while Treasury buybacks increased to at least $4 billion per operation from 9 September.

At the time of reporting, Bitcoin price was $77,737.74.

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