Bitcoin has been in a downtrend for about nine weeks, but this pattern might be nearing its end. It could potentially last another week, however, with the overall downward trend putting pressure on Bitcoin’s price, time is running out. Either buyers will push the price higher, breaking out of the current pattern, or sellers will continue to drive the price down.
$BTC closes in on 7-month trendline
Looking at the chart, the price of Bitcoin is trying to stay above the $71,400 support level. If it succeeds, it could quickly rise to meet the downward trendline, and then potentially break through the strong resistance around $74,000.
The key isn’t whether the price will hit and bounce off the downward trendline, but if buyers can maintain upward movement when it does. After seven months of declining prices, it remains to be seen if this is finally the moment the downtrend ends and Bitcoin begins to rise again.
A big move is building
Looking at the daily price chart, we can see two bearish patterns, and how close Bitcoin is to potentially testing a key downward trendline. Even if that trendline is broken, the bearish pattern will likely remain in effect until the price rises significantly above $80,000.
The volume on the chart is decreasing, suggesting a significant price change may be coming. The RSI indicator remains below its downward trendline, meaning we’re likely to see either a bounce back up or a break through that line soon. It’s a tight situation, and the outcome is uncertain.
$BTC about to break out in weekly time frame
Looking at the weekly price chart, Bitcoin is nearing the end of a bearish pattern known as a ‘bear flag,’ specifically concerning its lowest point. Interestingly, both this bear flag and the previous one lasted about 10 weeks. In the past, the price had already started falling out of the pattern at this point. However, with just three days left in the week, the price is currently showing signs of moving *upward* within this current flag. The big question is whether this upward trend will hold when the weekly chart officially closes on Sunday.
Looking at the chart, it seems we might see one more downward move before a potential reversal. However, if buyers can maintain the current price level until the Sunday close, the next candle could break above the downward trendline, which would be a significant positive signal and give the bulls a real advantage.
On this longer-term chart, the RSI is a more trustworthy signal, and it currently shows the indicator line clearly above the downward trend line. It’s important for this pattern to continue until the end of Sunday. Notice how the price increased sharply each time the downtrend line was broken in the past.
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2026-04-10 14:21