Veteran trader Peter Brandt sparked fresh debate about Bitcoin’s chart after posting an image with the caption, “The Banana is splitting. This is a Horn. Richard W. Schabacker wrote about this in his 1934 book.” For those familiar with Brandt’s style, this hinted at a potential shift in how he views Bitcoin’s recent recovery.
The chart shows Bitcoin’s daily price rebounding from a drop into the low $60,000s in February and climbing back toward the low $70,000s. Brandt drew two widening curved lines around this rebound, forming what he called a “horn.”
The term “banana” isn’t a standard technical label like a flag or wedge. Here, Brandt seems to use it descriptively—the rounded recovery arc resembles a banana, and his comment about it “splitting” suggests the smooth curve is opening into a broader, less stable shape, hence the “horn” reference.
In classical charting, a horn pattern is a broadening formation where price swings expand rather than tighten. Brandt’s mention of Richard W. Schabacker, an early technical analysis pioneer, frames this as a traditional chart pattern, not a casual meme.
However, Brandt isn’t committing to a single interpretation. When a user asked him to choose between “horn or flag,” he replied, “Could be either. Sorry you cannot handle flexibility.” This indicates he sees the structure as being in transition, highlighting that real-time analysis is often less clear-cut than textbook examples.
Viewed this way, his post is more about market behavior than a specific prediction. A flag pattern typically suggests a orderly pause in a trend, while a horn implies widening volatility and a less controlled move. On Brandt’s chart, Bitcoin is advancing near the upper boundary of the formation, with the lines flaring outward—suggesting volatility could increase.
Brandt didn’t specify a price target, but the chart’s upper boundary rises from the mid-$70,000s in mid-March toward approximately $83,000 to $88,000 by early April. If Bitcoin follows the upper curve, the pattern points toward the low- to mid-$80,000s as a potential next zone.
At the time of writing, Bitcoin is trading at $73,186.
Frequently Asked Questions
Of course Here is a list of FAQs about Bitcoins recent price movement and the identified chart pattern designed for a range of experience levels
General Beginner Questions
1 Whats happening with Bitcoins price right now
Bitcoins price has been rising significantly and is getting close to the 85000 mark a level it has never reached before
2 Who is Peter Brandt and why is his analysis important
Peter Brandt is a wellknown and respected veteran commodity trader and chart analyst His identification of patterns often garners attention from experienced traders in the market
3 What is a horn pattern on a price chart
A horn pattern is a specific and somewhat rare chart formation that looks like two upward price spikes with a dip in between resembling an animals horns Its typically seen as a sign of a powerful sustained upward trend
4 Is this horn pattern a guarantee that the price will keep going up
No Chart patterns are not guarantees they are tools analysts use to assess probabilities While Brandt sees it as very bullish prices can always reverse due to other factors like news regulations or macroeconomic events
5 Should I buy Bitcoin right now because of this pattern
This is not financial advice Buying based solely on one analysts pattern identification is risky Always do your own research understand the extreme volatility of Bitcoin and only invest money you can afford to lose
Intermediate Advanced Questions
6 How reliable are chart patterns like the horn in predicting crypto prices
Reliability varies In traditional markets certain patterns have historical precedents In the newer more volatile crypto market patterns can be less reliable and sometimes form differently They are one piece of analysis among many
7 What typically happens after a horn pattern is confirmed
According to classical charting theory a confirmed horn pattern suggests the prior uptrend is likely to continue with significant momentum Analysts will project a price target by measuring the move leading into the pattern
8 What are the risks of following this bullish analysis
The main risk is a false signal or pattern failure The price could reject the 85000 level and fall sharply trapping buyers who entered late Always use stoploss orders to manage