RATE Group | Why A Year-Long Trendline Could Signal Doom
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Why A Year-Long Trendline Could Signal Doom

10 Feb Why A Year-Long Trendline Could Signal Doom

Posted at 17:21h in Bitcoin News by

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The entire crypto space has been on fire lately, causing most investors and analysts across the market to conclude that Bitcoin is just days away from entering its next bull market, ready to reach new all-time high prices.

But the most recent rally may now be over, and according to a year-long trendline, the latest move up may have been nothing more than a bearish retest confirming the 2019 uptrend as support now turned resistance before a shocking fall further.

Is a Crypto Bull Market Back On?

Ever since the start of 2020, Bitcoin has been rallying, bringing investors over 30% on year-to-date returns. Elsewhere across the crypto market, altcoins have also been skyrocketing, causing a return of investor confidence in the asset class.

Indicators on monthly and weekly timeframes all show signals that Bitcoin is soon entering a bull market.

Related Reading | Bitcoin Just Formed a Golden Cross, Restoring Faith in A Crypto Bull Run 

And while there may be truth to that theory, a…

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