Bitcoin hits bear market trendline – Rejection or New Bull Market Breakout?

NewsThu, 06 Aug 2026 17:10:52 UTC1 hour ago
Bitcoin hits bear market trendline – Rejection or New Bull Market Breakout?

The $BTC price just tagged the critical trendline that has kept the entire bear market below since the all-time high in October 2025. Do the bulls have what it takes to break through and confirm above, or is this perhaps the first run at a wall that will prove hard to break? 

$BTC price arrives at breakout point

Source: TradingView

In the 4-hour time frame it can be observed that the $BTC price is right up against the bear market trendline. So far the price has bunched up underneath the trendline but has not broken through. Can the top of the descending channel plus the $64,360 horizontal level support the price enough to enable the breakout? This remains to be seen, but it shouldn’t be long before we find out.

If this major trendline does break to the upside, this could provide the momentum for the price to hit the big $65,600 resistance level. The $BTC price would not then be far from the neckline of the inverse head and shoulders pattern, and the completion of the right shoulder.

All that being said, shorter term price momentum is starting to top out. It may be that a rejection and a period of downward and sideways may be needed in order for the price momentum to turn to the upside again and have a better chance of breaking through.

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