Peter Brandt outlines Bitcoin downside scenario toward $58,000–$62,000 after range breakdown

On January 20, veteran market technician Peter Brandt highlighted a bearish setup on Bitcoin's daily chart that, in his view, leaves room for a decline toward the $58,000–$62,000 area. He argued that BTC has slipped from a topping pattern, failed to regain former support near $98,000–$102,000, and is now trading in a corrective channel, while spot prices hover around $90,991 with muted momentum and key moving averages acting as resistance. Brandt emphasized that this projection is probabilistic, not guaranteed, and framed it within disciplined risk management.