Market veteran Peter Brandt believes additional Bitcoin declines stay doable amid a bear flag formation on the weekly chart.
Bitcoin has remained in a downtrend since its $126,000 peak in October 2025, with the worth now hovering round $66,000 after dropping 42% throughout the downtrend and 47% from its all-time excessive. In 2026 alone, Bitcoin is down 24.22%.
Amid the downturn, issues about whether or not the $60,000 stage reached in early February actually marked the cycle backside. Veteran dealer Peter Brandt believes the correction will not be over, along with his classical charting patterns suggesting additional draw back towards $49,000.
Key Factors
- Bitcoin entered a sustained downtrend after peaking at $126,000 in October 2025, falling to round $66,000.
- The worth dropped from $126,000 to $80,000, rebounded to $97,000, then fell once more to $60,000 in February 2026, forming a bearish construction of decrease highs and decrease lows.
- Peter Brandt recognized a bear flag or rising wedge sample under the 18-week shifting common.
- Brandt initiatives a possible decline towards $49,285, arguing that Bitcoin follows conventional charting ideas.
- Different analysts consider the bear market might final six to seven extra months, noting Bitcoin has not but examined a number of key help ranges.
Brandt’s Chart Suggests Bitcoin May Drop to $49,000
Brandt shared his newest evaluation in a put up on X. He additionally responded to claims that technical evaluation doesn’t work effectively for Bitcoin, arguing in opposition to this concept and explaining that Bitcoin really follows conventional charting guidelines fairly carefully.
He known as consideration to well-known strategies developed by early analysts like Richard Schabacker, Robert Edwards, and John Magee, noting that Bitcoin usually respects these patterns much more than different markets.
Holding onto this perception, Brandt argues that Bitcoin’s present sample is just not a completed correction however could also be a part of an ongoing downtrend. This means that the market might have extra time and decrease costs earlier than it might actually get better.
Bitcoin’s Shift from Bullish to Bearish Development
Brandt’s chart exhibits how Bitcoin moved from development into the ongoing downtrend. In March 2024, Bitcoin climbed to round $69,000 earlier than coming into a large, unstable sample often called an increasing channel, which lasted till mid-October 2024, when the worth dipped to about $62,000.
In November 2024, Bitcoin broke out of that sample and began a powerful rally, reaching $109,000 in January 2025. After that, the market pulled again to $74,000 in April 2025, then shortly recovered and climbed to $123,000 in July 2025.
The $123,000 in July 2025 marked a brand new all-time excessive on the time, however Bitcoin corrected barely after that and moved sideways above $115,000 for some time earlier than making one final push to $126,000 in October 2025, which marked the cycle’s peak.
From there, the pattern modified. Bitcoin dropped to $80,000 in November 2025, rose once more to a decrease excessive of $97,000 in January 2026, after which fell sharply to $60,000 in early February 2026. Since then, the worth has been shifting in a rising wedge or bear flag, a sample that usually results in additional declines.
Bitcoin now trades close to $66,530, whereas the 18-week MA round $80,351 acts as resistance. The ADX studying of 32.37 exhibits that the pattern is powerful, and the Common True Vary of 8,876 factors to excessive volatility. Brandt’s chart suggests an additional drop to $49,000 could also be doable, going in opposition to the concept that Bitcoin has reached a backside.
Different Analysts Level to Extra Draw back Dangers
Different analysts have additionally raised issues about calling a backside too early. Particularly, market analyst Crypto Bullet argued that $60,000 is unlikely to be the ultimate low. He believes the bear market might final one other six to seven months.
He additionally identified that Bitcoin has not but examined the realized value at $54,000, which is a stage it often drops under throughout bear cycles, and the 200W MA at $59,280. As well as, he famous that Bitcoin continues to be buying and selling $24,000 above the CVDD stage of $47,374, and.
Dan, a verified CryptoQuant analyst, shared an identical opinion. He stated it’s nonetheless too early to say that $60,000 was the bottom level, explaining that the standard alerts seen at main bottoms haven’t but appeared.
DisClamier: This content material is informational and shouldn’t be thought-about monetary recommendation. The views expressed on this article might embody the creator’s private opinions and don’t mirror The Crypto Primary opinion. Readers are inspired to do thorough analysis earlier than making any funding choices. The Crypto Primary is just not answerable for any monetary losses.
