Legendary Trader Peter Brandt Maps Out Next Phase of Bitcoin's Price Action
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Veteran market analyst Peter Brandt has taken a fruity approach with his latest Bitcoin
BTCUSD
price forecast.His terminology might sound like a dessert menu, but the technical analysis points to an extremely bullish setup for the world's leading cryptocurrency.
The "banana split"After a steep and humongous plunge in late January and early February 2026, the sell-off exhausted itself. Now, the market is in the middle of choppy consolidation.
Bitcoin has slowly carved out a rounded, upward-sloping channel in lieu of a sharp "V-shaped" recovery.
Despite heavy recent selling pressure, buyers have stepped in to steadily raise the local floor.
This macro chart defines Bitcoin's historical bull cycles within a massive upward-curving channel, bounded by a green support band at the bottom and a red resistance band at the top.
The recent market correction brought the price down exactly to the green lower boundary of this decade-long curve. Touching this green support band has historically served as the launchpad for the flagship cryptocurrency's most aggressive parabolic rallies.
The "little banana" (short-term rounded bottom) is forming precisely on top of the "big banana" (the macro multi-year support line).
So, what is the "banana split"? On his macro chart, Brandt has drawn a bold, red arrow pointing straight up from the current price action near $69,189
The probability of a massive breakout depends on the momentum that has been accumulated within this current bowl.
Bitcoin is currently testing the top of its recent consolidation range just above $70,000. However, the bulls are definitely not out of the woods just yet.
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