Bitcoin has reached Peter Brandt’s February downside target, but the veteran trader says BTC could still move lower before forming a tradable bottom. In an earlier outlook, he projected a potential $300,000 to $500,000 bitcoin peak in 2029. Bitcoin’s latest drop has returned BTC to the February low area that veteran trader Peter Brandt identified as his initial downside target. Brandt has traded markets for decades and is known for applying classical chart analysis to commodities, foreign exchange, and crypto. His latest chart still leaves room for more weakness before a durable trading opportunity forms.