Veteran trader Peter Brandt has pushed Bitcoin back into focus with a chart setup that points to a possible upside break. His view centers on a short-term rounded recovery taking shape on top of a much larger long-term support structure. Brandt labeled the combination a “banana split,” using the term to describe the overlap between a smaller recovery curve and a broader macro base.
A rounded recovery is forming on macro support
The setup developed after Bitcoin’s sharp drop in late January and early February 2026. Selling pressure later eased, and buyers returned near lower levels. Price action stayed uneven, but the market gradually built a firmer base instead of snapping back in a quick V-shaped rebound. In Brandt’s view, that slower recovery matters because it is developing inside a historical support area that has framed earlier bull-cycle corrections.
On his macro chart, Bitcoin remains inside a broad upward-curving channel. The lower green boundary of that structure has often acted as a launch area during past pullbacks, while the upper red boundary has marked zones where rallies later ran into resistance. The latest sell-off drove BTC directly into that lower green support band, strengthening the bullish case behind his current chart read.
The “little banana” sits on the “big banana”
Brandt described the rounded bottom now taking shape as the “little banana,” while the larger long-term support structure serves as the “big banana.” That overlap is the real point of the “banana split” idea. It suggests that Bitcoin’s current recovery is not developing in isolation, but on top of a support zone that has mattered in prior market cycles.
The chart argument is less about the label and more about the alignment of timeframes. A short-term base resting on long-term support gives the recovery more weight. If price continues to hold there, breakout expectations stay alive. If support fails, the structure loses much of its strength. For now, Brandt’s chart leans toward the first outcome.
$69,189 and the area above $70,000 remain in focus
Brandt’s chart also highlights $69,189 as a key reference point, with a bold upward arrow drawn from that area to indicate the possibility of a larger move if momentum keeps building. At the same time, Bitcoin has been testing the upper edge of its recent consolidation range just above $70,000, placing the market near an important decision zone.
Confirmation is still required. Bitcoin has not fully broken out of the recent range, and nearby resistance remains intact, yet buyers have continued to defend higher levels after the earlier heavy sell-off. That slow climb has preserved the rounded recovery structure in Brandt’s chart. In that framework, BTC appears to be building a base rather than tracing out a failed rebound, and a clean move through resistance above the current range would give the “banana split” setup far more force.