Peter Brandt: Bitcoin Hit Feb Target; Low May Arrive in October

On June 3 veteran trader Peter Brandt posted on X that Bitcoin had reached the February low he identified as his initial downside target, but he warned further declines could occur and that the market might experience a terminal wash-out before stronger support appears. He included a chart with the post and wrote, “As I see it bitcoin has met its initial target at Feb low. This does not mean that BTC cannot work lower or have a terminal wash-out. I do not see a tradable low until October.”

In a May 13 post Brandt noted that a recognizable bottom had not formed and described a bear channel developing from the February low. He added that a close below $79,145 would point to lower levels inside that channel.

On April 23 Brandt projected an investable low in September or October 2026, noting that low could either hold above or break below the February 2026 bottom. He also projected a possible major high between $300,000 and $500,000 in September or October 2029 if past cycle patterns persist.

Brandt applies classical chart analysis to commodities, foreign exchange and cryptocurrencies and has traded markets for decades. His recent posts base the timeline and targets on price patterns and cycle timing rather than macroeconomic or on-chain indicators.

The trader’s timeline places a potential tradable low several months away and leaves room for more volatility before a clearer buying opportunity appears in the autumn.