Legendary Trader Peter Brandt Maps Out Next Phase of Bitcoin’s Price Action

Veteran market analyst Peter Brandt has taken a fruity approach with his latest Bitcoin (BTC) 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.

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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.