Bitcoin Price Previous Bear Trend Could Predict Potential Price Action Ahead

Bitcoin is at an interesting price point in its decade or so on the market. The first-ever crypto-asset designed by Satoshi Nakamoto is no longer in a bear market, but not yet in a bull market, as it has yet to set a new all-time high or break past the remaining bear market resistance.

That same bear market may help predict future price action, as a similar trend line has appeared at the top of the current rally that looks eerily similar to a trend line that kept Bitcoin from ever revisiting $20,000.

Bearish Trend Line Hasn’t Been Broken, But Bulls Are Ready For Action

Most crypto analysts, investors, and traders believe that Bitcoin has already started its next bull run. But bears have still managed to keep their presence known, and Bitcoin was rejected at $13,800 as a result. Since then, the leading crypto asset by market cap has struggled to retest previous local highs – the only remaining obstacle before the asset’s previous all-time high is retested next.

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