Brandt Sees Bearish Trend in Bitcoin's Head-and-Shoulders Pattern

Veteran trader Peter Brandt is bearish on Bitcoin's next move, pointing to a head-and-shoulders pattern. He notes that if he were to bet on it, he would bet on a decline.

The cryptocurrency has been stuck in a narrow range after a sharp correction earlier this summer and is struggling to reclaim the key resistance area near $67,260.

Brandt's chart shows a large head-and-shoulders formation that developed between April and June. The pattern formed with a left shoulder in April at mid-to-upper $70,000s, followed by a higher peak of roughly $82,000 in May as the 'head', and then a right shoulder created in late May and early June.

The neckline of the pattern was drawn around the $75,000 area. Bitcoin broke that level below in early June and the subsequent sell-off took BTC from roughly $75,000 to below $60,000. Brandt's chart extends toward approximately $58,000, indicating a potential retest of the bottom in 2026.