Bitcoin Surges Past Multi-Month Downtrend, Signaling Potential for Gains

Bitcoin’s price action has sent a bullish signal after exceeding a long-standing multi-month downtrend, according to Rekt Capital’s analysis. The chart shared by the analyst reveals a breakout above key resistance levels. After periods of lower highs, Bitcoin was trapped within a downward trendline, limiting its potential for significant rallies, leading to bearish market speculation. However, a recent surge has propelled Bitcoin past this downward trajectory. 87,298 USD marks this recent peak, signifying a notable upward movement in price.