Several probs.
Peat- yes that looks peaty to me... get that thing repotted in real soil NOW... shake as much of the old stuff off the roots as you can without damaging them.
Depth in pot- level of soil should be less than an inch from the rim of the pot to avoid air stagnation around the stem and among the low branches
Moisture- Awful dry there
Calcium deficiency- YIKES that weird crinkly appearance going to necrotic blotches is a good sign... time to hit the thing with CalMAg Plus. But remember that the soil pH (probably in the low 5s because of that shitty peat dirt you are using) is locking out the nutrients your plant needs, so whatever feeding you do is going to be kinda pointless until you get your pH situation sorted out.