Peter Brandt warns Bitcoin may drop to $58,000-$62,000 based on bearish technical patterns.
Rising wedge and 2022 fractal comparisons reinforce bearish technical outlook.
OG Bitcoin whales move and sell coins, adding uncertainty to market direction.
Veteran trader Peter Brandt has forecasted that Bitcoin (BTC) could decline toward the $58,000–$62,000 zone, implying a 33–37% correction from current price levels of around $92,400.
His prediction comes as Bitcoin continues to display multiple bearish signals, with other analysts also flagging the risk of further downside.
In a post on X (formerly Twitter), Brandt stated that Bitcoin could move lower to the $58,000 to $62,000 range. The accompanying chart indicates that his outlook is based on a rising wedge pattern that has developed over the past 2 months.
