TLDR
- Peter Brandt outlined a new Bitcoin price projection after the recent market correction.
- He said the late January and early February 2026 sell-off reached exhaustion before consolidation began.
- Bitcoin formed a rounded upward-sloping channel instead of a sharp V-shaped recovery.
- Brandt stated that the price touched the green macro support band on his long-term chart.
- He explained that this green band has previously acted as a base for parabolic rallies.
Veteran trader Peter Brandt has outlined a new projection for Bitcoin after its recent correction. He described the setup using fruit-themed chart patterns and pointed to a potential breakout zone. His latest chart places Bitcoin near $69,189 as it tests resistance above $70,000.
Brandt shared his updated Bitcoin outlook after a steep drop in late January and early February 2026. He said the sell-off reached exhaustion and then shifted into a sideways consolidation phase. He described the structure as a rounded formation rather than a sharp recovery, and he linked it to a larger macro channel.
Bitcoin Price Holds Macro Support as “Big Banana” Forms Base
Brandt presented a long-term chart that frames Bitcoin within an upward-curving channel. He marked a green support band at the bottom and a red resistance band at the top. He stated that the recent correction pushed the price directly into the green lower boundary of this curve.
He explained that this green band has historically acted as a launchpad for parabolic rallies. He referred to the macro support line as the “big banana” on his chart. He stated that Bitcoin now rests precisely on this multi-year structural base.
The Big Banana is forming a Little Banana — and it indicates there is about to be a Banana Split $BTC🍓🍌🍨🫕 pic.twitter.com/0bDCPU3tGP
— Peter Brandt (@PeterLBrandt) March 10, 2026
Brandt connected the recent rounded pattern to this broader curve. He said the short-term structure aligns with the long-term support channel. He indicated that this alignment strengthens the current technical setup.
Peter Brandt Identifies “Little Banana” Structure Near $70,000
Brandt described the ongoing consolidation as a “little banana” forming above macro support. He said Bitcoin has carved an upward-sloping channel instead of printing a sharp “V-shaped” rebound. He added that buyers have gradually lifted the local floor despite heavy selling pressure.
He noted that Bitcoin now tests the top of its recent consolidation range just above $70,000. He placed a red arrow on his macro chart pointing upward from the current price zone. He said the “banana split” represents a potential breakout if momentum expands.
Brandt emphasized that momentum inside the rounded bowl will determine the next move.
He stated, “The probability of a massive breakout depends on the momentum accumulated within this current bowl.” He also said that bulls must confirm strength above resistance before any sustained rally unfolds.
Bitcoin traded near $69,189 when Brandt published his latest chart update. The asset continues to hover just below the upper boundary of its consolidation band. Price action now focuses on whether it can secure a clear break above $70,000.
