Veteran trader Peter Brandt has forecasted a potential decline in Bitcoin's price to the $40,000 range if it fails to surpass its long-term upper trendline. In a recent analysis, Brandt highlighted that Bitcoin's inability to reach the upper boundary of a key channel since 2013 often results in a move towards the lower boundary, which currently spans from below $70,000 to approximately $40,000. Brandt pointed out that the recent price pullback from $92,000 to $86,000 indicates a transition from a 'healthy trend' to a 'risk trend.' He views the $40,000 level as a typical developmental point rather than a crisis, suggesting that such a decline would be part of Bitcoin's normal market behavior.