The price of Bitcoin has dipped back into negative territory after experiencing a five-day surge that began from its low of $65,820 on March 9. The leading cryptocurrency reached a peak of $73,698 on Friday, hitting the upper limit of its recent trading range before pulling back.
In a tweet, seasoned trader Peter Brandt pointed out a recognizable pattern in the Bitcoin chart and teased his followers with the phrase “I pledge allegiance to the…”
I pledge allegiance to the _ _ _ _
Fill in the blanks pic.twitter.com/6C0lfgnGmO— Peter Brandt (@PeterLBrandt) March 13, 2026
<p.Brandt showcased a Bitcoin chart that illustrated two channel patterns. The upper channel pattern was observed just before Bitcoin's decline to around $60,000.
A similar channel formation seems to be developing now, which could lead to a breakout in either direction. Brandt has presented this situation as an intriguing teaser for his audience.
In an earlier post on X, he mentioned what he called Bitcoin’s “little Banana,” referring to a channel pattern whose lower boundary resembles a banana shape when viewed logarithmically. This might correspond with the lower channel highlighted in his latest tweet.
“When little Banana aligns with Big Banana. We celebrate with Banana Cream Pie,” stated Brandt alongside BTC charts indicating potential targets ranging from $250,000 to $500,000—possibly alluding to what he termed “banana cream pie.”
Bitcoin Price Movement
This week saw Bitcoin reaching its recent trading range’s upper limit before it retraced some gains due to market volatility.
The cryptocurrency peaked at $73,698 on Friday but subsequently reduced those gains by nearly half. As of now, it has decreased by 2.29% over the last day and is priced at approximately $70,740; however it remains up by 4.13% for the week overall. Since early February,Bitcoin has been fluctuating between values of $75,000 and $60,000.
Recently there’s been renewed interest in Bitcoin after several months where selling pressure had driven prices down significantly from their all-time high above $126K reached last October.U.S.-listed spot exchange-traded funds (ETFs) tied directly to Bitcoin are expectedto see net inflows for three consecutive weeks—the longest streak since July—with these funds attracting over$1.6 billion within just one month alone.