Bitcoin Clears Bear Market Trendline: Fireworks Loading or Just More Chop?

Into the eleventh month of this bear market, the $BTC price has finally managed to break beyond the major bear market trendline. Could this be a signal that the bear market has ended and that Bitcoin is going to rise from here, or is there just going to be more sideways chop as the $BTC price continues to form a bottom?

Not a strong breakout so far

Source: TradingView

The 4-hour time frame chart shows that the bear market and bull market trendlines are very close to meeting just as the $BTC price forced its way through to the upside and beyond the bear market trendline. 

However, if traders were expecting fireworks after this breakout, so far they have been disappointed. Volume has continued to remain low, and therefore the $BTC price has not been able to get far from the trendline. Instead, the price has fallen below a small rising trendline and looks to have confirmed this minor breakdown. Some sideways chop may be the order of the next few days.

Indicators signalling a potential end to the upside?

Source: TradingView

… Continue reading the full article at the original source below.