BTC Breaks 7-Month Downtrend: How High Can Bitcoin Price Go in 2026?
Source: TradingView
The weekly chart shows the clear breakout candle on the other side of the descending trendline. Can this now turn into a strong upside rally? The RSI at the bottom of the chart reveals that this is a strong possibility. The previous two times that the $BTC price broke out of big chart patterns there were huge rallies to the upside. Green arrows show how the breakouts of the descending trendlines in the RSI were matched exactly by breakouts in the price action. This is the weekly time frame, therefore fakeouts do not often occur.
One more thing. The current price action does have the appearance of a bear flag. That said, if it is a bottoming process, it could be that a large bullish W pattern is forming, just like it did for the breakout of the last big falling wedge pattern.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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