This is potentially a great sign for things to come...

Bitcoin has been in a downtrend for over year, over 400 days to be precise.

Though I should say "had" instead of "has" because bitcoin just broke out of that downtrend.

Check it out:

(source: https://twitter.com/rovercrc/status/1616828974025277445/photo/1)

Usually downtrend breaks like this one tend to mean a big move in the opposite direction.

Meaning, bitcoin is likely to experience a sustained period of bullishness now that the downtrend has broken.

However, there is often a pullback to the downtrend line before more big gains come.

Which would mean some throwback to that trendline seen above before continuing higher than the impulse move that broke the downtrend line.