Veteran trader Peter Brandt’s distinctive “banana” chart analysis indicates Bitcoin faces a decisive inflection point following 15 years of price consolidation near the $118,000 level. The chart traces BTC’s gradual rise from its early days alongside a long-term trendline, currently capturing market attention as it approaches critical boundaries.
Market sentiment remains sharply divided on Bitcoin’s potential path according to the analysis. A confirmed breakout above the curve could trigger substantial upward momentum toward seven-figure price targets envisioned by bullish analysts. Conversely, any breakdown below this crucial support line may indicate a significant bearish reversal.
Brandt maintains a neutral stance on the outcome, emphasizing uncertainty. He advises market participants to watch for definitive breakout or breakdown signals rather than speculating prematurely. The chart underscores Bitcoin’s persistent long-term growth pattern, with historical data showing distinct market eras preceding major price movements throughout its development.