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Peter Brandt: Bitcoin to Find Key Support at $42,000

2026.02.06 19:03:30

**February 6th** Peter Brandt— a prominent trader and chart analyst who correctly predicted Bitcoin’s 2018 crash— said this morning that if Bitcoin tests the “Banana Peel” support level (a zone it has touched in prior bear markets), the crypto’s bottom would likely land just below $42,000. Brandt argues the lower bound of the Banana Peel curve is Bitcoin’s strongest, most critical long-term support. Major bear market bottoms in 2011, 2015, 2018, and 2022 have historically hovered near or slightly dipped below this line. **Note**: The “Banana Peel” is a term Brandt coined in his long-term Bitcoin analysis. He visualizes Bitcoin’s logarithmic price trend from 2010 to present as a parabolic “Banana” curve: the outer curve marks historical parabolic uptrends and extreme bull market tops, while the inner curve (the Banana Peel’s lower bound) acts as long-term support typically touched or slightly broken in the deepest bear market retracements.
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