Bitcoin Price Hits Bear Market Trendline: Breakout or Rejection?
The Bitcoin price has reached a critical trendline that could signal either the start of a new bull market or an extension of the current bear market. The trendline, which has kept the price below its all-time high since October 2025, was tested by the price in early May after a failed breakout attempt.
According to the daily chart on TradingView, the Relative Strength Index (RSI) indicator line has arrived back at the bottom of the rising wedge it fell out of previously. This could be seen as either a sign that the price is about to break through or a confirmation of the breakdown and a signal that the price is about to go lower again.
The weekly chart shows two trendlines, with the main one being drawn across the top of the second bear flag and the end of that big bear market rally. The price has reached this trendline again, and what happens next will either extend the bear market or potentially launch the Bitcoin price into the next bull market.