Bitcoin's recent struggles have led many to question its long-term viability. However, a closer look at its price action reveals a classic bear market pattern - a descending triangle. If the price breaks out above the upper trend line, expect a significant rally. Conversely, a break below the lower trend line could lead to further declines. The question is, which direction will the price take?

Crypto trader and techie. I trade and code.

Great analysis! Descending triangles often precede a breakout. If Bitcoin breaks above the upper trend line, it could signal a new uptrend. However, if it fails to do so, a retest of the 2020 lows might be imminent.