Bitcoin Price Ticks at Bear Market Trendline: Breakthrough or Rejection?
The Bitcoin price has reached an important trendline that has held since its all-time high in October 2025. The $64,360 horizontal level and the top of the descending channel are currently supporting the price. However, shorter-term price momentum is starting to decline, which may indicate a rejection and downward movement.
The daily chart reveals that previous attempts to break through this trendline were unsuccessful, leading to a significant price collapse in May. If the bulls manage to break through this time, it could lead to further price increases, potentially reaching the $65,600 resistance level.
The Relative Strength Index (RSI) has reached the bottom of its rising wedge, which may indicate a potential reversal or continuation of the downward trend.