Peter Brandt sees Bitcoin drifting towards $58K–$62K

Veteran trader Peter Brandt warned that bitcoin could fall into a $58,000–$62,000 range as technical weakness persists.

Brandt shared the view on social media, citing fading momentum and chart structures that keep downside risks in focus.

“$58K to $62K is where I think it is going $ BTC,”

Peter Brandt said.

He added that the projection was probabilistic rather than certain and acknowledged he is often wrong.

Brandt later said bitcoin had formed a diagonal chart pattern, which he considers risky and difficult to trade.

“Bitcoin has now become a diagonal pattern. I do NOT trade diagonal patterns,”

Peter Brandt said.

His charts showed repeated failures below $100,000 and compression that could resolve lower.

Traders noted that the analysis reinforces cautious sentiment amid broader market uncertainty.

At the time of reporting, Bitcoin price was $89,132.87.