Alert: Bitcoin Long-Term Trendline May Be Breaking

Since 2017, Bitcoin has respected an ascending trendline. Starting from the bull market high of 2017, this trendline connects perfectly through the first and second pivot highs in the bull market of 2021. That same trend line extends out and gives the high of 2024, before the big correction.

This same trend line has seen price break above it in the last few days. While above, investors need to monitor the weekly and monthly closes to be sure it truly has broken out. In 2021, price went above the trend line but by the weekly close, it was back below. Same on the monthly.

Overall, this is promising for Bitcoin but don't get too excited until there is a weekly and monthly close above.