Veteran trader Peter Brandt has stirred new debate across the crypto community with the release of a long-term logarithmic chart of Bitcoin, covering its entire price history since 2010.
The chart, curved in an upward arc resembling a banana, has captured attention for its suggestion that Bitcoin may be approaching a critical inflection point.
Brandt, known for his decades-long experience in classical charting techniques, shared the chart on social media with the caption: “What side of the Banana Split?” Though not explicitly predictive, the post hints at an impending directional move that could define the next phase of Bitcoin’s market cycle.
The chart follows a parabolic arc that begins near Bitcoin’s earliest price discovery and curves upward toward its current consolidation zone, now hovering near $118,000. While the arc does not forecast a specific outcome, it presents a structural boundary that Bitcoin appears to be testing.
Technical Compression Points to Imminent Volatility
Brandt’s visual underscores a broader market conversation: is Bitcoin preparing for a breakout, or will it slip beneath the curve that has historically supported its long-term trend?
Analysts are closely watching Bitcoin’s price action as it compresses near the upper boundary of this arc. Historically, such prolonged consolidation within a narrowing structure has preceded either steep rallies or notable breakdowns.
As Bitcoin remains range-bound and unable to establish new highs, the tension is building among both retail and institutional participants.
“This is not just a drawing, it’s a statement,” said one analyst in response to Brandt’s post. “When a pattern spans over a decade of price data and begins to lose momentum, the next move often sets the tone for years.”
Broader Market Conditions Fuel Uncertainty
The timing of Brandt’s post coincides with a period of mixed signals in the cryptocurrency sector. On one hand, inflows into Bitcoin exchange-traded funds (ETFs) and increased interest from institutional investors have provided a tailwind.
On the other hand, macroeconomic uncertainty, including inflationary pressure and shifting interest rate policies, has kept risk appetite in check.
Bitcoin has traded sideways for several weeks, with price action lacking the volatility typically seen during breakout phases. While some investors interpret this as healthy consolidation, others worry that the lack of momentum could foreshadow a deeper correction.
Technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) remain neutral, further emphasizing the standoff in market sentiment.
Brandt’s Chart Echoes Previous Cycle Signals
Peter Brandt’s influence in the trading world is not without precedent. He previously gained attention for accurately identifying key chart patterns during the 2017 bull run and the subsequent 2018 correction.
His recent use of a “banana arc” brings a unique perspective, using log-scale interpretation to chart Bitcoin’s macro trajectory over 15 years.
“This arc has held for multiple market cycles,” Brandt wrote in a follow-up reply. “If it breaks now, it would be a first in Bitcoin’s entire trading history.”
Some traders are interpreting the upper curve as long-term resistance. A clean break above could redefine the narrative and reignite bullish momentum. Conversely, failure to hold this structure may confirm weakening support and challenge Bitcoin’s prevailing uptrend.
Conclusion
With Peter Brandt’s “banana chart” making the rounds, Bitcoin is once again in the spotlight, not just for its price, but for the technical story it may be telling. As the asset trades along a curve that has guided its movement for more than a decade, the coming weeks may reveal whether this historic pattern will persist or finally fracture.
