Bitcoin price is currently flirting with a downward trend line that thus far has capped off any further upside. It is also what led to the sizable drop and historic quarterly close. Because all eyes are likely on this major trend line preventing the top cryptocurrency from further new highs, any reaction at this level should be especially notable. Here is a closer look at the trend line and what might happen when it ultimately breaks. One Line Could Prevent Bitcoin Price From New All-Time Highs As this article gets typed, the urgency to hit publish is increasing, as Bitcoin price is making a push through this very trend line in reference. Related Reading | The Idea That The Bitcoin Bottom Is In Is Broadening The trend line is what stopped the bull rally of 2021 in its tracks, and a second touch caused a 50% collapse across crypto. The third touch could be the charm that sends the top cryptocurrency slicing right through it. The entire market is watching this trend line | Source: BTCUSD on TradingView.com Bitcoin has thus far struggled to get through it, but consolidation below resistance is typically bullish. The trend line also could be the last thing stopping from a variety of bottom patterns and signals from confirming. BTCUSD Bull Flag Breakout Has Potential Target Near $300,000 Now only would a break of the trend line confirm a potential bump and run reversal bottom and a broadening wedge bottom formation, but i...
